Post Utme Summit University 2018 Accounting Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Summit University Accounting examination.

Post Utme Summit University 2018 Accounting Objective / Multiple Choice
Question 6 POST_UTME_SUMMIT_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the cash basis of accounting. It records all cash receipts and payments in the cash book. However, it does not record any transactions that do not involve cash. Which of the following is a characteristic of the cash basis of accounting?

Answer Options

A. It records all transactions in the cash book.
Correct Answer B. It records all cash receipts and payments in the cash book.
C. It records all transactions that do not involve cash in the cash book.
D. It records all transactions in the ledger.
Correct Answer
B
Correct Option:
It records all cash receipts and payments in the cash book.

About This Question

This is Post Utme Summit University 2018 Accounting Question 6. It is one of the objective questions from the 2018 Post Utme Summit University Accounting examination.

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