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Question Practice

Why might a business choose to maintain a petty 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

Why might a business choose to...

Single Answer MCQ
Q-00053974

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

1

To track major expenses

2

For convenience in managing small cash payments

3

To avoid bank transactions

4

To increase profits

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Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

What is the purpose of a cash book?

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Q2.

In a double column cash book, what does the bank column represent?

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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.

When cash is withdrawn from the bank for personal use, which account is debited?

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