General Knowledge
Inventory, Bank and Cash are examples of these.
Current Assets
This account earns no interest.
Checking account
This book records credit sales.
Sales day book
The initial set of funds the petty cashier commences his/her day with is known as.
The float
Also referred to as a timed account.
Fixed account
Another name of capital.
Equity
When a customer allows a bank to make fixed monthly payments on his/her behalf.
Standing order
This book records cash receipts and payments.
Cash book
Expenses that are often incurred and inexpensive.
Sundry expenses
The sand dollar is a form of this tool.
Digital currency
This financial statement gives a snapshot of the businesses performance at a point in time.
Balance sheet
These are for deposits made after banking hours.
Night safe/box
This book records the acquisition and disposal of fixed assets.
General Journal
The system by which the petty cashier is topped up.
Imprest system
Commercial paper
A = L + C is the formula for.
Accounting equation
These cheques have been torn.
Mutilated cheque
This day book is a subsidiary of the cash book.
Petty cash book
Kim starts her day off with $215, and spends $92. What is her top-up amount?
$92
A debt instrument used by common persons.
Promissory note
Fixed assets are recorded by order of.
Permanence
Withdrawing funds in excess of what is on your account is know as.
Bank overdraft.
We can find credit notes in this day book.
Returns inwards day book.
The source document for the petty-cash book.
Petty cash voucher
These are similar to an actual teller.
ATM’s