- Retirement
- Resign
- Dismiss
- Corruption
- a
-
There are four types of Pension:
Compensation Pension
Invalid Pension
Superannuation Pension
Retiring Pension
Accountant
Journal means:
- Monthly
- Daily
- Weekly
- None of above
- b
-
The Journal is a French language word and derived from “Jour” which means day. Therefore, the meaning of Journal is daily.
Transactions are recorded on daily basis in Journal.
An Accounting Cycle consist of how many steps?
- 03
- 04
- 05
- 06
- c
-
Transaction
Journal
Ledger
Trial Balance
Final Account
Prepaid Expense is also called …. Before using it.
- Current Asset
- Capital
- Liability
- Drawings
- a
-
Prepaid Expenses are those expenses which are paid in advance for example Rent, Mobile Load, Insurance and Etc.
Sum of cash and goods invested in the business by the owner is called:
- Liability
- Capital
- Asset
- None of these
- b
-
There are six types of capital :
Trading Capital
Fixed Capital
Circulating Capital
Working Capital
Loan Capital
Watered Capital
How many types of Liabilities?
- 02
- 03
- 04
- 05
- c
-
Current Liability
Fixed Liability
Contingent Liability
Outstanding Liability
Balance Sheet consist of Assets and ….?
- Capital
- Liabilities
- Drawings
- None of these
- b
…….. Is prepared before trading profit and loss account.
- Balance Sheet
- Trial Balance
- Ledger
- Final Statement
- b
-
Profit and Loss Account is also called Income Statement.
How often the bank reconciliations should be prepared?
- Annually
- Monthly
- Quarterly
- None of these
- b
-
The purpose of reconciliation is to find out the mistakes or errors in the financial statement.
Which of the following affects on the audit effectiveness?
- Risk of over reliance
- Risk of incorrect rejection
- Risk of incorrect acceptance
- Both A and C
- d