Accounts - Principles of Accounts Questions
Question 2446:
The distinguishing feature between a two-column cash book is
- A Discount column
- B Cash column
- C Bank column
- D Ledger folio
Question 2447:
The lodgement of business cash into the business bank account is an example of
- A Contra entry
- B Bank reconciliation
- C Self-balancing ledger
- D Reversal entry
Question 2448:
Which of the following is not a characteristic of trial balance?
- A It has columns for debit and credit balances
- B Total of debit balance equals total of credit balance
- C It is a statement
- D It is an account
Question 2449:
The capital of a sole trader changes as a result of
- A Paying wages by cash
- B Equipment purchased by cheque
- C Drawing by cheque
- D Purchase on credit
Question 2450:
A credit balance is
- A A liability or an expense
- B An expenditure or an income
- C An asset or an expense
- D An income