Financial Accounting

Q1. Which two of the statements below describe how the ICAEW has approached the development of the code of ethics for its members?

Q2. Reserves created out of profit to meet unforseen contingencies is called

Q3. What is the nominal code of Rent income?

Q4. Which of the following is an expense

Q5. An ___ is a person authorized to re view and verify the accuracy of finan cial records.

Q6. Utilities Payable

Q7. The presents a summary of the revenues and expenses of an entity for n a specific period of time, such as a month or a year.

Q8. Click and drag the picture above for clearer question. PLEASE READ AND UNDERSTAND THE QUES- TION.

Q9. Prepaid Expenses are

Q10. Irvin Raymond received a bank statement showing the following amounts. What is his present balance?Previous Balance $453.21 Deposits $449.00 Checks $456.01 Service Charge $2.34 Interest $2.98 Present Balance ???

Q11. Withdrawal of cash from business by the proprietor should be credited to

Q12. How do ethical employees treat other people?

Q13. Telephone is under which Trial Balance

Q14. AS 26 is related to?

Q15. Provision for Depreciation is always credited- why

Q16. To think good about the future of the company means

Q17. The dating terms that the SSL Company negotiated with a vendor are 3/10, n/30 on a purchase order made August 18. Calculate the discounted amount SSL would we for an order of $386.69 if it pays by August 25.

Q18. Accrual basis of accounting

Q19. If one aspect of a transaction is not recorded, which accounting concept is not followed?

Q20. Which one of the following states that the life of a business can be divided into equal time periods?

Q21. The term Book Keeping and Accounting can use interchangeably.

Q22. State the need for treatment of goodwill on the admission of a partner

Q23. If the claim is equal to workmen compensation reserve: journal entry will be:

Q24. Skills, talents, education, and abilities human workers bring to a marketplace is

Q25. In environmental analysis, what factor study about the income of the people, target market, inflation, recession, prosperity, demand and supply of the market.

Financial Accounting - part 4

Q1. Which two of the statements below describe how the ICAEW has approached the development of the code of ethics for its members?

Q2. Reserves created out of profit to meet unforseen contingencies is called

Q3. What is the nominal code of Rent income?

Q4. Which of the following is an expense

Q5. An ___ is a person authorized to re view and verify the accuracy of finan cial records.

Q6. Utilities Payable

Q7. The presents a summary of the revenues and expenses of an entity for n a specific period of time, such as a month or a year.

Q8. Click and drag the picture above for clearer question. PLEASE READ AND UNDERSTAND THE QUES- TION.

Q9. Prepaid Expenses are

Q10. Irvin Raymond received a bank statement showing the following amounts. What is his present balance?Previous Balance $453.21 Deposits $449.00 Checks $456.01 Service Charge $2.34 Interest $2.98 Present Balance ???

Q11. Withdrawal of cash from business by the proprietor should be credited to

Q12. How do ethical employees treat other people?

Q13. Telephone is under which Trial Balance

Q14. AS 26 is related to?

Q15. Provision for Depreciation is always credited- why

Q16. To think good about the future of the company means

Q17. The dating terms that the SSL Company negotiated with a vendor are 3/10, n/30 on a purchase order made August 18. Calculate the discounted amount SSL would we for an order of $386.69 if it pays by August 25.

Q18. Accrual basis of accounting

Q19. If one aspect of a transaction is not recorded, which accounting concept is not followed?

Q20. Which one of the following states that the life of a business can be divided into equal time periods?

Q21. The term Book Keeping and Accounting can use interchangeably.

Q22. State the need for treatment of goodwill on the admission of a partner

Q23. If the claim is equal to workmen compensation reserve: journal entry will be:

Q24. Skills, talents, education, and abilities human workers bring to a marketplace is

Q25. In environmental analysis, what factor study about the income of the people, target market, inflation, recession, prosperity, demand and supply of the market.