Question

Which one of the following is not correct for cash book ?
(a) It is a dual book
(b) It is journalized ledger
(c) It records liabilities
(d) Both b and c​

Answer 1

Answer:

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(c) It records liabilities .

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Answer 2

It records liabilities is not correct for cash book. (Option c)

• It is a separate book created at the time of creating ledgers and contains all the cash transactions in it.
• It consists of both the inflows and outflows so, is a dual book.
• Since it is a ledger, it showcases the cash account. But the entries are also recorded in it as a journal.
• Liabilities do not form a part of it and are not shown in it.