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Business
Business(Household accounts)
| Question | Answer |
|---|---|
| What is an analysed cash book? | A book used for both cash and bank transactions showing the total and detail |
| What is opening balance? | The amount of money at the beginning of a given period |
| What is closing balance? | The amount of money at the end of a given period |
| What is contra Entry? | The transferring of money from the bank to the cash account or from the cash to the bank account |