Which of the following is not a column in a three-column cash book? MCQ with Answer and Explanation

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Which of the following is not a column in a three-column cash book?

A. Cash

B. Bank

C. Discount

D. Journal folio

Answer: Option D

Solution (By JKSSB Mock Tests)

Three-column cash book has discount, cash, and bank columns. Journal folio is not a column; ledger folio might appear.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

Which of the following is a 'Non-Cash Expense'?

A. Salaries paid

B. Commission paid

C. Depreciation

D. Rent paid

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Correct Answer: Option C

Explanation:
Depreciation is a non-cash expense as there is no outflow of cash.

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Question #2

A hybrid system of accounting is a mixture of:

A. Indian GAAP and IFRS

B. Cash basis and Accrual basis

C. Financial and Cost accounting

D. Double entry and Single entry

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Correct Answer: Option B

Explanation:
In a hybrid system, typically incomes are recorded on a cash basis while expenses are recorded on an accrual basis.

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Question #3

If a debtor becomes insolvent and only 60 paise in a rupee is recovered from his debt of Rs 5,000, the Bad Debts account is debited by:

A. Rs 5,000

B. Rs 3,000

C. Rs 2,000

D. Rs 8,000

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Correct Answer: Option C

Explanation:
Amount recovered = 60% of 5,000 = Rs 3,000. The irrecoverable amount (Bad Debt) is 40% of 5,000 = Rs 2,000.

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