SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Distinction between Cash book and Pass Book
Distinction between Cash book and Pass Book Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
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FAQs on Distinction between Cash book and Pass Book Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is the difference between a cash book and a passbook? |  |
Ans. A cash book is a financial record maintained by an organization to track all cash transactions, including receipts and payments. On the other hand, a passbook is a document issued by a bank to its account holders, which records all the transactions related to their bank account.
| 2. Can both cash book and passbook be used to track the same transactions? | |
Ans. Yes, cash book and passbook can be used to track the same transactions. However, the cash book is maintained by the account holder, while the passbook is maintained by the bank. Both records should ideally match, reflecting the same transactions.
| 3. Are there any differences in terms of accessibility between the cash book and the passbook? | |
Ans. Yes, there are differences in terms of accessibility between the cash book and the passbook. The cash book can be accessed and updated by the account holder at any time. On the other hand, the passbook can only be updated by the bank and is usually updated periodically or upon request by the account holder.
| 4. Which document is considered as an official record of transactions, the cash book or the passbook? | |
Ans. Both the cash book and the passbook are official records of transactions, but they serve different purposes. The cash book is an internal record maintained by the account holder for their own reference. The passbook, on the other hand, is an official document issued by the bank, which serves as a proof of transactions for both the account holder and the bank.
| 5. Can discrepancies occur between the cash book and the passbook? | |
Ans. Yes, discrepancies can occur between the cash book and the passbook due to various reasons such as errors in recording transactions, delays in updating the passbook by the bank, or bank charges that may not be immediately reflected in the cash book. It is important to regularly reconcile and identify any discrepancies between the two records to ensure accurate financial reporting.
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Nov 22, 2024 Last updated |
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