Cash book is prepared by____________?
Correct answer: B. Accountant of business
- A. Bank
- B. Accountant of business
- C. Manager of a company
- D. Bank's cashier
Explanation
The cash book is a book of original entry maintained for the business, normally by its accountant or accounting staff. The bank prepares its own records, not the business's cash book.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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Accounting is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
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