Q113
An entry which is made on both sides of a cash book is called
A.
Cash entry
B.
Contra entry
AnswerC.
Payment entry
D.
Compound entry
Answer: Option B
Solution
Answer: Option B
Solution:
An entry which is made on both sides of a cash book is called Contra entry. In the dual entry accounting system, a Contra Entry is an entry which is recorded to reverse or offset an entry on the other side of an account. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa.