Maintenance of Cash/Subsidiary Books and Ledger – Quiz 1

Maintenance of Cash/Subsidiary Books and Ledger is the Third Unit (Unit 3) under Module A: Accounting Principles and Processes of Paper – III (Accounting & Financial Management for Bankers)

If you are appearing for the Upcoming JAIIB Exams, it is important to understand the fundamental concepts of the Topics and clear your doubts. We have prepare and collected some fundamental questions and answers in the form of MCQ Questions and Answers arranged into multiple Quizzes having 10 Questions in each Quiz. It can help you to understand the topics. A solid fundamental understanding will build your confidence and encourage you to think critically and enables you to answer the JAIIB Questions correctly in the Exam and increase your chances to pass the exam with flying colors. It is advisable to practice these Questions and Answers on regular basis to raise your confidence Level.

Practice MCQ Question and Answer – Maintenance of Cash/Subsidiary Books and Ledger

Quiz 1

1. What column is typically found in the form of a journal ?





….
Answer is (a)
Ledger folio column

2. What is the primary function of a cash book ?





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Answer is (b)
To record both cash receipts and payments

3. How is a cash book ruled ?





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Answer is (b)
It is divided into debit and credit sides

4. Where are cash receipts recorded in the cash book ?

  1. On the debit side
  2. On the credit side
  3. On both sides
  4. On neither side




….
Answer is (a)
On the debit side

5. What is the first step in the accounting cycle ?





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Answer is (c)
Recording transactions in the journal or subsidiary books

6. At which stage of the accounting cycle is the financial position of the business ascertained ?





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Answer is (c)
Summarizing

7. Which stage of the accounting cycle involves posting entries to appropriate ledger accounts ?





….
Answer is (b)
Classifying

8. What is the purpose of preparing trial balance and final accounts in the accounting cycle ?





….
Answer is (d)
To determine profit or loss and financial position

9. What is the final stage of the accounting cycle ?





….
Answer is (c)
Summarizing by preparing trial balance and final accounts

10. Where are cash payments recorded in the cash book ?





….
Answer is (b)
On the credit side
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Quiz Numbers

1

Read More: MCQ Type Questions and Answers from Paper – III (Accounting & Financial Management for Bankers)

Module A: Accounting Principles and Processes

Module B – Financial Statements and Core Banking Systems

  • Balance Sheet Equation
  • Preparation of Final Accounts
  • Company Accounts – I
  • Company Accounts – II
  • Cash Flow & Funds Flow
  • Final Accounts of Banking Companies
  • Core Banking Systems & Accounting in Computerised Environment

Module C – Financial Management

  • Financial Management – An Overview
  • Ratio Analysis
  • Financial Mathematics – Calculation of Interest & Annuities
  • Financial Mathematics – Calculation of YTM
  • Financial Mathematics – Forex Arithmetic
  • Capital Structure and Cost of Capital
  • Capital Investment Decisions/Term Loans
  • Equipment Leasing/Lease Financing
  • Working Capital Management
  • Derivatives

Module D – Taxation and Fundamentals of Costing

  • Taxation: Income Tax/TDS/Deferred Tax
  • Goods & Services Tax
  • An Overview of Cost & Management Accounting
  • Costing Methods
  • Standard Costing
  • Marginal Costing
  • Budgets and Budgetary Control