Which of the following is not a petty cash book item? purchase of

Assessment: WAEC SSCE - Financial Accounting - 2000 (Objective) Subject: Financial Accounting

Question 1 Report

Which of the following is not a petty cash book item? purchase of
Answer Details
Petty cash book is used for recording small cash transactions in a business. Typically, items recorded in the petty cash book include things like stationery, postage stamps, and other small office supplies. However, machinery is not a petty cash book item because it is a large and expensive asset that would be recorded in the fixed asset register or capital expenditure account. Therefore, the correct answer is "machinery".
Read lesson note on Cashbook (JAMB)
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