Financial Accounting

Q1. If one aspect of a transaction is not recorded, which accounting concept is not followed?

Q2. Click and drag the picture above for clearer question. PLEASE READ AND UNDERSTAND THE QUES- TION.

Q3. What is the nominal code of Rent income?

Q4. Whichoneofthefollowingstatesthat the life of a business can be divided into equal time periods?

Q5. Which two of the statements below describe how the ICAEW has ap- proachedthedevelopmentofthecode of ethics for its members?

Q6. Skills,talents,education,andabilities humanworkersbringtoamarketplace is

Q7. AS 26 is related to?

Q8. Reserves created out of profit to meet unforseen contingencies is called

Q9. How do ethical employees treat other people?

Q10. Irvin Raymond received a bank state ment 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. ThetermBookKeepingandAccount- ing can use interchangeably.

Q12. The presents a summary of the rev- enues and expenses of an entity for n a specific period of time, such as a month or a year.

Q13. In environmental analysis, what fac- torstudyabouttheincomeofthepeo- ple, target market, inflation, recession, prosperity, demand and supply of the market.

Q14. Withdrawal of cash from business by the proprietor should be credited to

Q15. State the need for treatment of goodwill on the admission of a partner

Q16. Which of the following is an expense

Q17. Prepaid Expenses are

Q18. The dating terms that the SSL Com- pany negotiated with a vendor are r 3/10, n/30 on a purchase order made Aaugust 18. Calculate the discounted amount SSL would owe for an order Nof $386.69 if it pays by August 25.

Q19. Accrual basis of accounting

Q20. An ___ is a person authorized to re view and verify the accuracy of finan cial records.

Q21. Utilities Payable

Q22. Provision for Depreciation is always credited- why

Q23. Telephone is under which Trial Balance

Q24. Iftheclaimisequaltoworkmencom- pensation reserve: journal entry will be:

Q25. To think good about the future of the company means

Financial Accounting - part 4

Q1. If one aspect of a transaction is not recorded, which accounting concept is not followed?

Q2. Click and drag the picture above for clearer question. PLEASE READ AND UNDERSTAND THE QUES- TION.

Q3. What is the nominal code of Rent income?

Q4. Whichoneofthefollowingstatesthat the life of a business can be divided into equal time periods?

Q5. Which two of the statements below describe how the ICAEW has ap- proachedthedevelopmentofthecode of ethics for its members?

Q6. Skills,talents,education,andabilities humanworkersbringtoamarketplace is

Q7. AS 26 is related to?

Q8. Reserves created out of profit to meet unforseen contingencies is called

Q9. How do ethical employees treat other people?

Q10. Irvin Raymond received a bank state ment 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. ThetermBookKeepingandAccount- ing can use interchangeably.

Q12. The presents a summary of the rev- enues and expenses of an entity for n a specific period of time, such as a month or a year.

Q13. In environmental analysis, what fac- torstudyabouttheincomeofthepeo- ple, target market, inflation, recession, prosperity, demand and supply of the market.

Q14. Withdrawal of cash from business by the proprietor should be credited to

Q15. State the need for treatment of goodwill on the admission of a partner

Q16. Which of the following is an expense

Q17. Prepaid Expenses are

Q18. The dating terms that the SSL Com- pany negotiated with a vendor are r 3/10, n/30 on a purchase order made Aaugust 18. Calculate the discounted amount SSL would owe for an order Nof $386.69 if it pays by August 25.

Q19. Accrual basis of accounting

Q20. An ___ is a person authorized to re view and verify the accuracy of finan cial records.

Q21. Utilities Payable

Q22. Provision for Depreciation is always credited- why

Q23. Telephone is under which Trial Balance

Q24. Iftheclaimisequaltoworkmencom- pensation reserve: journal entry will be:

Q25. To think good about the future of the company means