Multiple Choice Questions on When any entry is made on the both sides of cash book is called as ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

When any entry is made on the both sides of cash book is called as ........

General Accounting Principles Accounting cycles
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    When any entry is made on the both sides of cash book is called as?

    opening entry

    Incorrect Answer

    double entry

    Incorrect Answer

    rectifying entry

    Incorrect Answer

    contra entry

    Correct Answer
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    Explanation:

    An entry which is made on both sides of a cash book is called Contra entry. In the dual entry accounting system, a Contra Entry is an entry which is recorded to reverse or offset an entry on the other side of an account

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