The closing balance of a petty cash book is a / an___________?

✅ A. sale is effected

Option A : sale is effected Option B : cash is received Option C : production is completed Option D : debts are collected Correct Answer : sale is effected Read more

✅ A. Outstanding checks

Option A : Outstanding checks Option B : Unpresented checks Option C : Deposit in transit Option D : Omission of Bank charges Correct Answer : Outstanding checks Read more

✅ C. Cash column

Option A : Bank column Option B : Discount column Option C : Cash column Option D : None Correct Answer : Cash column Read more

✅ B. Added to bank balance

Option A : Subtracted from bank balance Option B : Added to bank balance Option C : Added to Cash book balance Option D : Subtracted from cash book balance Correct Answer : Added to bank balance Read more

✅ B. Land

Option A : Building Option B : Land Option C : Plant and Machinery Option D : Office equipment Correct Answer : Land Read more

✅ C. Notes on account to Balance Sheet

Option A : Balance Sheet Option B : Directors report Option C : Notes on account to Balance Sheet Option D : Chairmans report Correct Answer : Notes on account to Balance Sheet Read more

✅ A. Profit & Loss Account is prepared for a certain period and hence it is an interim statement

Option A : Profit & Loss Account is prepared for a certain period and hence it is an interim statement Option B : Profit & Loss Account does not disclose the effect of non-financial items Option C : Net Profits are ascertained on the basis of current costs Option D : Net Profits as disclosed by P&L Account is not… Read more

✅ C. 24

Option A : 37.5 Option B : 38.25 Option C : 24 Option D : 35 Correct Answer : 24 Read more