Financial Accounting

Q1. This is an example of

Q2. Which of the following are tools of management accounting?A) Decision accountingB) Standard costingC) Budgetary controlD) Human Resources Accounting

Q3. Principles of management are significant because of:-

Q4. Journal entries of workmens compensation reserve

Q5. The rules and regulations which state how accountants operate in a particular place

Q6. Closing balance of the current year in the ledger accounts is the ___ of the next year

Q7. Threats from outsiders are a threat derived from the employee’s activities and actions?

Q8. A, B and C are partners sharing profits in the ratio of 1/4 : 3/10 : 9/20. The New ratio on the retirement of C will be

Q9. Ledger is called book of original entry.

Q10. Money spent

Q11. Cash withdrawn by the proprietor of the business for his personal use causes

Q12. Qualitative characteristics of accounting includes

Q13. specific order costing Method does not include (more than one option can be selected)

Q14. Choose the grammatically correct sentence.

Q15. which is the last step of accounting as a process of information

Q16. Which one of the following items cannot be recorded in the profit and loss appropriation account?

Q17. Drawings A/c Dr To Cash A/cThe journal entry is for recording -

Q18. Direct cost and direct expenses are the same

Q19. abnormal losses are

Q20. Book-Keeping is applicable to barter system transaction.

Q21. Which of the following BEST describes the term entrepreneur?

Q22. The systematic process of keeping or maintaining financial records and transactions for a business

Q23. Which of the following is an example of tertiary sector?

Q24. Rules of debit for real account is

Q25. Latrina Ramin’s checking account had a balance of $148.52. One day she writes checks for $46.75 to purchaseablanket,$6.25forabook,and $95.00 for a bedspread. What is the new balance in Ramin’s account?

Financial Accounting - part 3

Q1. This is an example of

Q2. Which of the following are tools of management accounting?A) Decision accountingB) Standard costingC) Budgetary controlD) Human Resources Accounting

Q3. Principles of management are significant because of:-

Q4. Journal entries of workmens compensation reserve

Q5. The rules and regulations which state how accountants operate in a particular place

Q6. Closing balance of the current year in the ledger accounts is the ___ of the next year

Q7. Threats from outsiders are a threat derived from the employee’s activities and actions?

Q8. A, B and C are partners sharing profits in the ratio of 1/4 : 3/10 : 9/20. The New ratio on the retirement of C will be

Q9. Ledger is called book of original entry.

Q10. Money spent

Q11. Cash withdrawn by the proprietor of the business for his personal use causes

Q12. Qualitative characteristics of accounting includes

Q13. specific order costing Method does not include (more than one option can be selected)

Q14. Choose the grammatically correct sentence.

Q15. which is the last step of accounting as a process of information

Q16. Which one of the following items cannot be recorded in the profit and loss appropriation account?

Q17. Drawings A/c Dr To Cash A/cThe journal entry is for recording -

Q18. Direct cost and direct expenses are the same

Q19. abnormal losses are

Q20. Book-Keeping is applicable to barter system transaction.

Q21. Which of the following BEST describes the term entrepreneur?

Q22. The systematic process of keeping or maintaining financial records and transactions for a business

Q23. Which of the following is an example of tertiary sector?

Q24. Rules of debit for real account is

Q25. Latrina Ramin’s checking account had a balance of $148.52. One day she writes checks for $46.75 to purchaseablanket,$6.25forabook,and $95.00 for a bedspread. What is the new balance in Ramin’s account?