Cash Book & Cash Discount

In the folio column, What dose GL mean:

• Good Leadership

• General Licenses

• General Ledger

• Graph Ledger

When the business receives the_______________, it will check it against the bank column in its own cash book to ensure that there is no errors.

• blank statement

• balance sheet

• bank statement

• debit statement

Which is the action of 'Assest of bank is decreased'

• Credit the bank account (the money comes 'OUT'), that is, the bank column in the cash book.

• Debit the cash account (the money comes 'IN'). that is, the cash column in the cash book.

'C' in the folio column stands for Credit.

• True

• False

Is this an Advantage or Disadvantage of a folio column?:

'Folio references are essential to help locate where entries have been posted.'

• Advantage

• Disadvantage

If the action is:

'Debit the bank account (the money goes 'IN'). that is, the bank column in the cash book.'

What would be the effect?

• Asset of cash is decreased

• Asset of bank is increased

What is the abbreviation for 'Purchases Ledger' in the folio column?

• PuLe

• P

• PL

• LP

'Money in' goes on the right side, (Cr)

• True

• False