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| 1. |
Discuss the advantages of keeping cash book |
| Answer» Advantages of Cash BookCash book offers the following advantages:\tIt offers easy verification of cash by matching the balance in the cash book with actual cash in hand and is therefore helpful in identifying mistakes in the entry.\tIt helps in creating a regular record of transactions date wise for the convenience of accounting personnel.\tAs it is maintained date wise, any cash payments or the transaction can be correctly traced back in the cash book.\tIt is helpful in detecting any cash frauds in the organisation.\tIt helps in saving time and labour by reducing the workload | |