NCERT · Class 11 · Accountancy · Recording of Transactions - IIA transaction that is entered on both sides of a three-column cash book is called a:
Step-by-Step Solution
Contra entry is a transaction that involves both cash and bank accounts, and therefore affects both sides of a three-column cash book, denoted by the letter 'C'.
Detailed Options Breakdown
Option : Compound entry
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Recording of Transactions - II.
Option 1: Opening entry
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Recording of Transactions - II.
Option 2: Contra entry (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 3: Transfer entry
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Recording of Transactions - II.
💡 Study Guide: This question tests core syllabus concepts from Recording of Transactions - II. For formulas, key summaries, and mock exam reference guides, read the full Recording of Transactions - II Revision Notes.