A. Compound entry
B. Contra entry
C. Double-entry
D. None of these
Brief facts about this MCQs:
When an entry is made on both sides of the cash book, it is known as contra entry. A contra entry is recorded when the debit as well as on the credit side which affect the same parent account Moreover, it results in a net zero effect to the account. These are transactions that are recorded between cash and bank accounts.