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Question

Double column cash book records ___________________.


A
All transactions
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B
Cash and bank transactions
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C
Only cash transactions
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D
Only credit transactions
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Solution

The correct option is B Cash and bank transactions

The double column cash book (also known as two-column cash book) has two columns on both debit and credit sides-one to record cash transactions and one to record bank transactions. 

The cash column is used to record all cash transactions and works  as a cash account, whereas, bank column is used to record all receipts and payments made by cheques, and works as a bank account. Both the columns are totalled and balanced like a traditional T-account at the end of an appropriate period, which is usually one month.


Accountancy

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