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RECORDING OF TRANSACTIONS-II
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NCERT-RECORDING OF TRANSACTIONS-II-SHORT ANSWERS
- Briefly state how the cash book is both journal and a ledger.
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- What is the purpose of contra entry ?
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- What are special purpose books ?
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- What is petty cash book ? How it is prepared?
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- Explain the meaning of posting of journal entries?
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- Define the purpose of maintaining subsidiary journal.
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- Write the difference between return Inwards and return ouwards.
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- What do you understand by ledger folio?
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- What is difference between trade discount and cash discount?
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- Write the process of preparing ledger from a journal.
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- What do you understand by Imprest amount in petty cash book?
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