The discount column of a three column cashbook is not balanced off but periodically transferred to the discount account because discounts

A. Are not important in cashbooks
B.Are cash items only
C.Do not form part of double entry
D.Are used for bank reconciliation.


When is a petty cash account debited?

A.When the fund is established and every time money is spent
B.When the fund is established and every time it is replenished
C.When the fund is established and when the size of the float is decreased
D.Every time money is drawn from the petty cash.