Q. What is Cash Book in Accounting?
Top Answer
Solution:
In accounting, a cash book is a financial journal that records all cash transactions of a business entity.
The cash book is used to track and monitor the movement of cash, including receipts (cash inflows) and payments (cash outflows).
It is specifically focused on cash inflows and outflows.
A cash book consists of two main sections – Cash Receipts and Cash Payments.
The cash book is typically updated on a daily basis.
The cash book plays a crucial role in cash management, cash flow analysis, and reconciliation of cash balances with bank statements.
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