Q122
Cash book with cash and discount column is mostly referred to as
A.
Simple cash book
B.
Two columns cash book
AnswerC.
Three columns cash book
D.
Petty cash book
Answer: Option B
Solution
Answer: Option B
Solution:
Two Column Cash Books - In this discounts is also recorded with cash transactions. So both discounts received and the discount that is given is recorded here. If any organization is in a general practice of giving or receiving discounts this is the preferable option.