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Cash Book with Single Column Video Lecture | Accountancy Class 11 - Commerce

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FAQs on Cash Book with Single Column Video Lecture - Accountancy Class 11 - Commerce

1. What is a cash book with single column?
Ans. A cash book with single column is a simple accounting record that helps keep track of all cash transactions in a business. It only has one column to record cash receipts and payments, making it easier to maintain and understand.
2. How is a cash book with single column different from other cash book formats?
Ans. Unlike other cash book formats, a cash book with single column does not have separate columns for different types of cash transactions such as cash sales, credit sales, or cash purchases. It simply records all cash receipts and payments in a single column, making it a more straightforward and less detailed record.
3. What are the advantages of using a cash book with single column?
Ans. Some advantages of using a cash book with single column include its simplicity and ease of use. It requires less time and effort to maintain compared to other cash book formats. Additionally, it provides a clear overview of all cash transactions in one place, making it convenient for small businesses or individuals who have fewer cash transactions.
4. Can a cash book with single column be used for businesses with high transaction volume?
Ans. While a cash book with single column is suitable for businesses or individuals with fewer cash transactions, it may not be the most efficient choice for those with high transaction volume. In such cases, a cash book with multiple columns, separating different types of cash transactions, would provide better organization and analysis of financial data.
5. Is a cash book with single column sufficient for preparing financial statements?
Ans. A cash book with single column alone may not be sufficient for preparing financial statements, especially for businesses that need to provide more detailed information for analysis or reporting purposes. However, it can serve as a primary record for cash transactions, which can then be used to create more comprehensive financial statements with the help of additional accounting records and documents.
82 videos|105 docs|42 tests

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