Accounting

A ledger is a?

A. principal book of accounts B. book of original entry C. record of credit transactions D. summary of entries Correct…

6 years ago

Which of the following is the reason why a seller allows a customer cash discount?

A. agreement to become a regular customer B. introducing a new customer to the seller C. settlement of account within…

6 years ago

A trial balance is prepared to?

A. detect fraud B. ascertain losses in a trading period C. determine opening capital D. test arithmetical accuracy of ledger…

6 years ago

Which of the following is not an external user of accounting information?

A. management B. creditors C. shareholders D. government Correct Answer: Option A A. management

6 years ago

Provision for depreciation on delivery van is charged to?

A. trading account B. profit and loss account C. appropriation account D. manufacturing account Correct Answer: Option B B. profit…

6 years ago

The concept which states that assets are not to be recorded at their current market value is?

A. money measurement B. materiality C. cost D. entity Correct Answer: Option C C. cost

6 years ago

Which of the following is not used in public accounting?

A. cash book B. trial balance C. profit and loss account D. bank reconciliation statement Correct Answer: Option C C.…

6 years ago

The business entity concept?

A. separates the owner's transactions from the business transactions B. records transactions outside the business C. does not separate the…

6 years ago

The process of recording financial transactions of government is?

A. management accounting B. financial accounting C. cost accounting D. public sector accounting Correct Answer: Option D D. public sector…

6 years ago

The diagrammatic representation of the workings of the computer program is?

A. flow chart B. desktop C. keyboard D. byte Correct Answer: Option A A. flow chart

6 years ago