Application To Double Entry Book Keeping From Cash Book - SS1 Accounting Past Questions and Answers - page 1
1
What is the purpose of a cash book in double-entry bookkeeping?
View related lesson
A
To record all financial transactions of a business
B
To record all cash transactions of a business
C
To update the general ledger
2
What is the purpose of the general ledger in double-entry bookkeeping?
View related lesson
A
To record all financial transactions of a business
B
To record all cash transactions of a business
C
To keep detailed records of specific types of transactions
3
What is the purpose of a subsidiary ledger in double-entry bookkeeping?
View related lesson
A
To record all financial transactions of a business
B
To record all cash transactions of a business
C
To keep detailed records of specific types of transactions
4
What is the purpose of posting entries from the cash book to the general ledger?
View related lesson
A
To ensure that the financial statements are accurate
Â
B
To update the subsidiary ledgers
C
To keep track of cash receipts
5
What is the purpose of posting entries from the cash book to the subsidiary ledgers?
View related lesson
A
To ensure that the financial statements are accurate
B
To update the general ledger
C
To record all cash transactions of a business
6
What is the purpose of a ledger in double-entry bookkeeping?
View related lesson
7
What is the difference between the general ledger and a subsidiary ledger in double-entry bookkeeping?
View related lesson
Loading lesson…