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Financial Statements of NPO

When a firm m...

Question

When a firm maintains a cash book, it need not maintain _______________.

A

Journal Proper

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B

Purchase(journal)book

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C

Sales(journal)book

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D

Bank and cash account in the ledger

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Solution

The correct option is C Bank and cash account in the ledger
When a firm maintains a cashbook, it does not need to maintain Separate Bank and cash account in the ledger.

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