📝 One-liners · 65 cards
MAINTENANCE OF CASH _ SUBSIDIARY BOOKS & LEDGER
What is a subsidiary book in banking accounting?
A subsidiary book is a special journal used to record a specific class of transactions in detail before posting to the ledger, reducing the burden on the main journal.
What is the primary function of a Cash Book in bank branch accounting?
It records all cash receipts and payments chronologically.
Which subsidiary book records all credit purchases made by a bank?
The Purchases Book (also called the Purchases Journal or Invoice Book) records all credit purchases; cash purchases are recorded in the Cash Book instead.
What is a Purchase Book used for in an accounting system?
It records all credit purchases of goods by the entity.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for MAINTENANCE OF CASH _ SUBSIDIARY BOOKS & LEDGER.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days