Which of the following books of original entry is used to record all payments and receipt by cash or cheque?

Assessment: WAEC SSCE - Financial Accounting - 2009 (Objective) Subject: Financial Accounting

Question 1 Report

Which of the following books of original entry is used to record all payments and receipt by cash or cheque?
Answer Details
The book of original entry used to record all payments and receipts by cash or cheque is the "Cash Book". This book serves as a record of all transactions involving cash and bank, and it is considered the primary source of entry for the cash and bank accounts in the ledger. It includes both the cash transactions that are entered in the bank account and those that are directly recorded in the cash account. The other options mentioned (sales day book, purchase day book, and general journal) are books of original entry used for specific types of transactions, but not for cash and bank transactions.
Read lesson note on Cashbook (JAMB)
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