Petty cash R7 000, Bank overdraft R 5 000, Prepaid Expenses R 8000. Total current liabilities in the Statement o Financial position will reflect R13 000. Select one: Ⓒ True O False

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.