Give short answers for the following questions: (20)

i. What do you understand by 'Subsidiary books'?

ii. What is journal?

iii. What is petty cash book?

iv. What are the different kinds of Subsidiary books?

v. What do you mean by Cash book?

vi. Define trade discount and cash discounts.

vii. What is the difference between trade discount and cash discount?

What is ledger account? Explain using illustrations. (5)

Explain the advantages ofsubsidiary books. (5)