Which of the following is a type of cash receipt journal + cash payment journal?
Correct answer: C. Cash book
- A. Bank statement
- B. Statement of cash flow
- C. Cash book
- D. Cash documents
Explanation
A cash book combines the functions of the cash receipts journal and the cash payments journal, recording both money received and money paid. A cash flow statement is a financial report, not a journal.
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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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