PRC-1 · Chapter 2 · Question 81 of 100
Which column in a three-column cash book does NOT form part of the formal double-entry system but acts only as a memorandum?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The Discount columns
Explanation
The cash and bank columns act as actual ledger accounts. The discount columns are merely memorandum lists; their totals are posted periodically to the actual discount ledger accounts.
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