Which of the following statements is/are true ?
A)A sale of an asset is recorded in the Sales Book
B)Total of Return Outward Book is debited to Return Outward Account
C)The balance of Petty Cash Book is a liability
D)Cash Book is a subsidiary book as well as a ledger

Question

Quizplus · Accepted Answer

Cash Book serves both as a ledger and a subsidiary book, recording all transactions involving cash and bank directly, making it unique in the accounting process.

Which of the Following Statements Is/are True