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Home Interview Accounting and Finance Comments

  • Question
  • Contra-entries are passed only when


  • Options
  • A. Simple cash book is prepared
  • B. Double column cash book is prepared
  • C. Three column cash book is prepared
  • D. None of the above

  • Correct Answer
  • Double column cash book is prepared 

    Explanation

    Contra-entry is the entry which effected the both sides in cash book.

    It is occured in three times, i.e.,

    1.Cash deposited in to bank,

    2.Cash withdrawn from the bank for office use, and

    3.Receivable cheque deposited in to the bank in another day.

  • Tags: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO

    Accounting and Finance problems


    Search Results


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    • Discuss
    • 2. What is the journal entry process from the time of generating an invoice to receiving payment?
    • Discuss
    • 3. What items would you verify when processing an expense report /invoice for payment?
    • Discuss
    • 4. How Would You Assist an Employee Whose Tax Withholdings Are Inaccurate?
    • Discuss
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    • Options
    • A. Noida
    • B. Mysore
    • C. Mumbai
    • D. Hyderabad
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    • 6. The main components of market risk are a) Liquidity risk b) Interest rate risk c) Currency risk

    • Options
    • A. Only a
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    • Discuss
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    • Options
    • A. TRUE
    • B. FALSE
    • Discuss
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    • Discuss
    • 9. What steps would you take before approving an invoice for payment?
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    • 10. What is FBT (Fringe Benefit Tax)?
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