Comprehensive Resources for Agriculture: Topical Questions, Past Papers, and Answers
Atika School
Differentiating the Cashbook and the Ledger Book in Farm AccountsDifferentiate between a cashbook and a ledger book
A cashbook and a ledger book are both important accounting tools used in farm accounts. However, there are key differences between the two: Cashbook: A cashbook is a book where all transactions involving the receiving and paying of cash are recorded. It serves as a subsidiary book that specifically tracks cash-related transactions. Some key points about the cashbook include:
Ledger Book: On the other hand, a ledger book is the principal book of accounts containing all entries. It serves as the central repository for all financial transactions and is typically divided into various accounts representing different aspects of the farm's financial activities. Some key points about the ledger book include:
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