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Bank Passbook and Its Components

A Passbook ke...

Question

A Passbook keeps the record of the _____ transactions of your account.

A

Debit

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B

Credit

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C

Both

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D

None

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Solution

The correct option is C Both

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Q. Account holders are required to carry a passbook whenever he goes to the bank to do banking transaction.

Q. Book-keeping is concerned with the ______ of transactions while Accounting is concerned with the _______ of the recorded transactions.

Accounting records business transactions and events which are of a financial nature.Is this a limitation of accounting?

Q. An accountant records a transaction if ________ .

State true of false :

In Book - keeping & accountancy non- monetary transactions are also recorded.

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Bank Passbook and Its Components

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