An item credited in the bank statement but yet to be recorded in the firm's cash book is
Bank loan
Contract payment
Standing order
Direct deposit
Correct answer is D
No explanation has been provided for this answer.
1 and 11
1 and 111
1 and V
1 and 1V
Correct answer is C
No explanation has been provided for this answer.
Imprest system only
Direct purchase by branch
Separate accountant for the branch
Credit sales by only the headquarters
Correct answer is D
No explanation has been provided for this answer.
Petty cash book records transactions on
The debit side only
The credit side only
Both credit and debit sides
Reversed entry
Correct answer is C
No explanation has been provided for this answer.
The major advantage of an imprest system is that it
Ensures a proper accountability for every expenditure
Trains the young accountants in preparation for greater responsibilities
Relieves the chief cashier of the numerous petty cash payments
Serves as an analysis column for every expenses
Correct answer is C
No explanation has been provided for this answer.