Accounting Cycle (11-20)

Which of the following is an advice of employee earning?

Advice note

Quotation

Purchase order

Pay slip

Correct! Wrong!

Losses normally have?

All of the given options

Credit balance

Debit balance

Not mentioned

Correct! Wrong!

Items such as a sales slip, a check, a bill, or invoices are examples of?

Cost of goods sold

Balance sheet accounts

Source documents

Income statement accounts

Correct! Wrong!

A company sold Rs. 400,000 of merchandise for cash and Rs. 120,000 of merchandise to credit customers who will pay for the merchandise in a later time period. How much revenue should be reported on the income statement of the current time period?

Rs. 120,000

Rs. 280,000

Rs. 520,000

Rs. 400,000

Correct! Wrong!

Voucher is used to record transactions that do not affect cash or bank?

Cash Voucher

Payment Voucher

None of given options

Journal Voucher

Correct! Wrong!

A Journal entry which requires more than two accounts is called?

Combined entry

Compound entry

None of given options

Double entry

Correct! Wrong!

Which of the following is not a voucher?

Ledger voucher

Journal voucher

Receipt voucher

Payment voucher

Correct! Wrong!

Which of the following presents key aspects of the process of accounting in the correct chronological order?

Recording, identifying, and communicating

Identifying, recording, and communicating

Recording, totaling, and identifying

Communicating, recording, and identifying

Correct! Wrong!

Accounting which recognizes an event as the transaction when cash is received or paid?

Cash basis of accounting

None of the given options

Cost accounting

Accrual basis of accounting

Correct! Wrong!

In the purchasing procedure which document will usually follow the goods received note?

Statement

Advice note

Delivery note

Invoice

Correct! Wrong!

Which of the following is an advice of employee earning?

Losses normally have?

Items such as a sales slip, a check, a bill, or invoices are examples of?

A company sold Rs. 400,000 of merchandise for cash and Rs. 120,000 of merchandise to credit customers who will pay for the merchandise in a later time period. How much revenue should be reported on the income statement of the current time period?

Voucher is used to record transactions that do not affect cash or bank?

A Journal entry which requires more than two accounts is called?

Which of the following is not a voucher?

Which of the following presents key aspects of the process of accounting in the correct chronological order?

Accounting which recognizes an event as the transaction when cash is received or paid?

In the purchasing procedure which document will usually follow the goods received note?

Search