Question 1 of 25
Hints left: 3
Q1
Click and drag the picture above for clearer question. PLEASE READ AND UNDERSTAND THE QUES- TION.
Q2
Reserves created out of profit to meet unforseen contingencies is called
Q4
Skills, talents, education, and abilities human workers bring to a marketplace is
Q5
In environmental analysis, what factor study about the income of the people, target market, inflation, recession, prosperity, demand and supply of the market.
Q6
Accrual basis of accounting
Q8
If the claim is equal to workmen compensation reserve: journal entry will be:
Q9
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.
Q10
Which one of the following states that the life of a business can be divided into equal time periods?
Q11
State the need for treatment of goodwill on the admission of a partner
Q12
An ___ is a person authorized to re view and verify the accuracy of finan cial records.
Q13
How do ethical employees treat other people?
Q14
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.
Q15
The term Book Keeping and Accounting can use interchangeably.
Q16
Provision for Depreciation is always credited- why
Q17
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 ???
Q18
Telephone is under which Trial Balance
Q19
Which of the following is an expense
Q20
To think good about the future of the company means
Q21
Withdrawal of cash from business by the proprietor should be credited to
Q22
If one aspect of a transaction is not recorded, which accounting concept is not followed?
Q24
Which two of the statements below describe how the ICAEW has approached the development of the code of ethics for its members?
Q25
What is the nominal code of Rent income?