Which of the following subsidiary books involves cash movements?

Assessment: WAEC SSCE - Financial Accounting - 2014 (Objective) Subject: Financial Accounting

Question 1 Report

Which of the following subsidiary books involves cash movements?

Answer Details
The subsidiary book that involves cash movements is the petty cash book. It is used to record small, daily cash transactions such as stationery, taxi fares, and other small expenses. The book is used to track and record how much money is spent and what it is spent on. Other subsidiary books such as sales day book, purchases day book, and returns inwards book do not involve cash movements but rather record credit transactions.
Read lesson note on Cashbook (JAMB)
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