PRC-1 · Chapter 2 · Question 5 of 100
'Radiant Traders' maintains a three-column cash book. What do the three distinct columns on the receipt (debit) side represent?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Cash, Bank, and Discount Allowed
Explanation
A three-column cash book contains columns for physical cash and bank transactions, plus a memorandum column for discounts. On the receipt side (debit), this third column specifically records the settlement discounts allowed to customers.
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