Which of the following statements is false?
A) Credit side total of Discount column of Cash Book is an income
B) Credit balance of Bank Pass Book is an overdraft
C) Debit balance of Bank column of Cash Book is an Asset
D) Debit balance of Cash column of Cash Book is an Asset
Correct Answer:
Verified
Q16: The entry to record the collection of
Q17: ABC Ltd. makes payments to its Sundry
Q18: R Ltd. makes purchases on credit. If
Q19: If Office Equipment is purchased for cash,
Q20: The periodical total of discount column on
Q22: Purchase of Fixed Assets on credit is
Q23: If you start with cash book favorable
Q24: When a Fixed Asset is obtained as
Q25: Which of the following is/are fixed asset(s)?
A)Closing
Q26: Bank Overdraft is shown as a
A)Current Liability
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