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Year 11 Exam  >  Year 11 Tests  >  Test: The Cash & Petty Cash Books - Year 11 MCQ

Test: The Cash & Petty Cash Books - Year 11 MCQ


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10 Questions MCQ Test - Test: The Cash & Petty Cash Books

Test: The Cash & Petty Cash Books for Year 11 2024 is part of Year 11 preparation. The Test: The Cash & Petty Cash Books questions and answers have been prepared according to the Year 11 exam syllabus.The Test: The Cash & Petty Cash Books MCQs are made for Year 11 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: The Cash & Petty Cash Books below.
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Test: The Cash & Petty Cash Books - Question 1
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What is the purpose of a Petty Cash Book?

Detailed Solution for Test: The Cash & Petty Cash Books - Question 1
The Petty Cash Book is used to record small, regular expenses such as office supplies, postage, and minor repairs, allowing for easier management of small cash transactions without having to use the main Cash Book.
Test: The Cash & Petty Cash Books - Question 2
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Which type of transactions are recorded in the Cash Book?

Detailed Solution for Test: The Cash & Petty Cash Books - Question 2
The Cash Book records both cash receipts and cash payments of a business, providing a comprehensive record of all cash transactions.
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Test: The Cash & Petty Cash Books - Question 3
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How often is the Petty Cash Book typically replenished?

Detailed Solution for Test: The Cash & Petty Cash Books - Question 3
The Petty Cash Book is usually replenished monthly, where the total expenditures recorded are reimbursed to maintain the petty cash float.
Test: The Cash & Petty Cash Books - Question 4
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Which document is used to support entries in the Cash Book?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 4
Invoices are used to support entries in the Cash Book, providing evidence of purchases made on credit or cash transactions.
Test: The Cash & Petty Cash Books - Question 5
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What is the primary purpose of maintaining a Cash Book?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 5
The primary purpose of the Cash Book is to record all business transactions involving cash, including receipts and payments.
Test: The Cash & Petty Cash Books - Question 6
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How are expenditures recorded in the Petty Cash Book?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 6
Expenditures in the Petty Cash Book are typically recorded in chronological order to maintain a clear and organized record of small cash outflows.
Test: The Cash & Petty Cash Books - Question 7
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Which book helps in maintaining control over small cash transactions?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 7
The Petty Cash Book helps in maintaining control over small cash transactions by providing a detailed record of petty expenses.
Test: The Cash & Petty Cash Books - Question 8
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When are entries made in the Cash Book?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 8
Entries in the Cash Book are made as transactions occur, ensuring real-time recording of cash movements.
Test: The Cash & Petty Cash Books - Question 9
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What is the role of the Cash Book in the accounting cycle?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 9
The Cash Book plays a role in the accounting cycle by providing evidence of cash transactions, aiding in financial reporting and decision-making.
Test: The Cash & Petty Cash Books - Question 10
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Who is responsible for maintaining the Petty Cash Book?
Detailed Solution for Test: The Cash & Petty Cash Books - Question 10
The Petty Cash Custodian is responsible for maintaining the Petty Cash Book, ensuring accurate recording and management of petty cash funds.
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