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Question Practice

What is indicated by the term 'closing balance' in a cash book?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Recording of Transactions - II
Question Bank

What is indicated by the term ...

Single Answer MCQ
Q-00053979

What is indicated by the term 'closing balance' in a cash book?

1

The total receipts

2

The total payments

3

The final amount available after all transactions

4

The initial cash balance

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Q3.

What happens to the contra entries when posting from the cash book to the ledger?

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Q4.

Why might a business choose to maintain a petty cash book?

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