Question

Which of the following statement/s is/are incorrect related to the difference between Journal and cash book?        
I.            The journal is used to record all financial transactions in chronological order, while the cash book specifically records all cash and bank transactions.      
II.            The journal typically has a three-column format, on the other hand cash book has two-column format.    
III.        Transactions are recorded in the journal as soon as they occur, while entries in the cash book are typically made on a daily basis.

A II only
B II and III only
C I and III only
D All are incorrect
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)