Cash can be drawn from the bank using
A bank teller
A credit card
A recharge card
ATM card
Correct answer is D
ATM is a machine that dispenses cash or performs other banking services when an account holder inserts a bank card. For one to withdraw money from the machine, you are required to own an ATM card
In a three-column cash book, dishonored cheques will be shown on the
Bank column (debit)
Bank column(credit)
Cash column(debit)
Cash column(credit)
Correct answer is B
Dishonoured cheques will be recorded on the credit side, write "By Debtor A/C" with respective amount in the bank column.
Purchases #12,000 and credit Ibrahim #12,000
Purchases #12,000 and credit sugar account #12,000
Jide #12,000 and credit purchases
Ibrahim #12,000 and sugar account #12,000
Correct answer is A
Debit purchase account with 12,000 and credit cash paid to ibrahim 12,000
Sugar account #12,000 and credit Jide #12,000
Jide #12,000 and credit sales account #12,000
Ibrahim #12,000 and credit Jide #12,000
Sugar account #12,000 and credit Ibrahim #12,000
Correct answer is B
Debit cash paid by Jide to the sum of 12,000 and credit stock or sales account
Akirika bought a motor van for his business by cash. The entries are to debit
Motor van and credit Akirika
Sales and credit Akrika
Motor van and credit cash
Cash and credit motor van
Correct answer is C
Since the van is not for resale rather to help in the running of the business, we debit motor van and credit cash account.