Description : Imprest Cash' in Business Terminology means 1. Cash maintained for Sunday expenses 2. Cash maintained for holidays 3. Cash maintained for closure of business 4. Cash maintained for top executive expenses 5. None of these
Last Answer : Cash maintained for top executive expenses
Description : Under vouching, checking is done of– (A) Journal and Ledger (B) Profit and Loss Account (C) Balance Sheet (D) All of the above
Last Answer : Answer: All of the above
Description : After the adjusting entries are journalized and posted to the accounts in the general ledger, the balance of each account should agree with the balance shown on the a. adjusted trial balance. b. post-closing trial balance. c. the general journal. d. adjustments columns of the worksheet.
Last Answer : a. adjusted trial balance.
Description : (i) A book of accounts in which all ledger accounts are maintained.
Last Answer : Write the word, term, phrase, which can substitute each of the statement : (i) A book of ... 's prepared from the balances of the ledger account.
Description : Sales invoices are first entered in A) The Cash Book B) The Purchases Journal C) The Sales Journal D) The Sales Account
Last Answer : Answer: C
Description : Which account listed below would be double ruled in the ledger as part of the closing process? a. Cash b. Retained Earnings c. Dividends
Last Answer : c. Dividends
Description : Peachtree, inputting income through general journal and having it show up on the general ledger?
Last Answer : I don't know much about this program. I would almost guess that the opposite problem would happen with journal entries, where they would show up in the GL and not on an Income Statement. Are you ... a few years since I did any proper accounting and I hope something I've mentioned here might help.
Description : Complete the following table : Ledger Journal
Last Answer : Complete the following table : Ledger Trial Balance Journal ?
Description : Ledger posting is made before journal entry.
Last Answer : State whether the following statement are ‘True or False’ with reason : Ledger posting is made before journal entry.
Description : Ledger Folio is recorded in the journal.
Last Answer : State whether the following statement are ‘True or False’ with reason : Ledger Folio is recorded in the journal.
Description : Ledger posting is not necessary for journal proper.
Last Answer : State whether the following statement are ‘True or False’ with reason : Ledger posting is not necessary for journal proper.
Description : ____________ is the act of transferring an entry from journal to ledger.
Last Answer : ____________ is the act of transferring an entry from journal to ledger. (a) Journalising (b) Casting (c) Balancing (d) Posting
Description : Totalling of Journal or Ledger is called as _________
Last Answer : Totalling of Journal or Ledger is called as _________ (a) Posting (b) Folio (c) Casting (d) Journalising
Description : The work of accounting depends upon ____________ (a) book-keeping (b) cash book (c) subsidiary books (d) ledger
Last Answer : The work of accounting depends upon ____________ (a) book-keeping (b) cash book (c) subsidiary books (d) ledger
Description : When a petty cash book is kept there will be A) No entries made at all in the general ledger for items paid by petty cash B) The same number of entries in the general ledger C) Fewer entries made in the general ledger D) More entries made in the general ledger
Description : (i) __________ book is an extract of customer’s account in the ledger of bank.
Last Answer : Complete the following sentences: (i) __________ book is an extract of customer's account in ... to suppliers are recorded is known as _______
Description : A credit memorandum is used as documentation for a journal entry that requires a debit to a. Sales and a credit to Cash. b. Sales Returns and Allowances and a credit to Accounts Receivable. c. ... and a credit to a contra-revenue account. d. Cash and a credit to Sales Returns and Allowances.
Last Answer : d. Cash and a credit to Sales Returns and Allowances.
Description : A small size of news paper, as opposed to a broadsheet 1. magazine 2. journal 3. tabloid 4. district edition 5. None of these
Last Answer : tabloid
Description : In hydrostatic bearings (A) The Oil film pressure is generated only by the rotation of the journal (B) The oil film is maintained by supplying oil under pressure (C) Do not require external supply of lubricant (D) Grease is used for lubrication
Last Answer : (B) The oil film is maintained by supplying oil under pressure
Description : In market skimming pricing strategy 1. Initially price is lower and then it is increased 2. Initial price is high and is maintained high 3. Initial price is low and is maintained low 4. Initial price is higher and then it is reduced 5. None of these
Last Answer : Initial price is higher and then it is reduced
Description : A database of information that is maintained by human editors and lists websites by category and subcategory with categorization is known as: 1. A search directory 2. Automated voice response (AVR) 3. Apps 4. Search Engine Optimization (SEO
Last Answer : A search directory
Description : Which of the following is an example of primary data? a) Book b) Journal c) Field Report d) Census Report.
Last Answer : a) Book
Description : PAN in Business terms means 1. Performing Asset Number 2. Personal Address Number 3. Permanent Account Number 4. Personal Account Number 5. None of these
Last Answer : Permanent Account Number
Description : A double rule applied to accounts in the ledger during the closing process implies that a. the account is an income statement account. b. the account is a balance sheet account. c. the account balance is not zero. d. a mistake has been made, since double ruling is prescribed.
Last Answer : a. the account is an income statement account.
Description : After closing entries are posted, the balance in the retained earnings account in the ledger will be equal to a. the beginning retained earnings reported on the retained earnings statement. b. the amount of ... earnings reported on the balance sheet. c. zero. d. the net income for the period.
Last Answer : . b. the amount of retained earnings reported on the balance sheet.
Description : Which of the following is wrong? (a) All real and personal accounts are transferred to balance sheet (b) Nominal accounts are transferred to P &L account (c) Each account is opened separately in ledger (d) Rent is a personal account, outstanding rent is nominal account
Last Answer : d) Rent is a personal account, outstanding rent is nominal accoun
Description : If you are building a brand new PPC account; and you want to start with your top converting terms, where is a good place to research where to find these terms? A. Your analytics account B. Your search console account C. Your merchant center account D. Your local business accoun
Last Answer : A. Your analytics account
Description : Which of the following steps in the accounting cycle would not generally be performed daily? a. Journalize transactions b. Post to ledger accounts c. Prepare adjusting entries d. Analyze business transactions
Last Answer : c. Prepare adjusting entries
Description : . Which one of the following is an optional step in the accounting cycle of a business enterprise? a. Analyze business transactions b. Prepare a worksheet c. Prepare a trial balance d. Post to the ledger accounts
Last Answer : b. Prepare a worksheet
Description : (i) An error in which the transaction is entered in the original book but not posted into the ledger.
Last Answer : Give one word/term or phrase for each of the following statements : (i) An error ... Errors can be rectified without passing rectification entries.
Description : Why ledger Called the book of final entry?
Last Answer : Need answer
Description : The following records may not be destroyed without the special permission of the Head of the Circle a) Post office order book b) Register of undeliverable pass books in deposit in the head office c) ... or connected with the cases which have not been fully decided or closed e) All the above
Last Answer : e) All the above
Description : State the importance of following documents in transportation. i) Log-book ii) Vehicle Ledger.
Last Answer : 1) Log Book: Each vehicle has a log book which contains the details about the running time for a trip and allied factors. The driver of motor vehicle fills or updates log book regularly ... Thus the vehicle ledger is collective record of the trips exposing the financial aspect of transportation.
Last Answer : Cash Receipt In the journal Recorded Is in cash Products Sale '
Description : he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales
Last Answer : d. Accounts Receivable Sales
Description : ___________ can be used as a standard to measure the efficiency of an economy 1. Cash reserve ratio 2. Exchange rate ratio 3. Incremental capital output ratio 4. Profit ratio 5. None of these
Last Answer : Incremental capital output ratio
Description : What is a Finge benefit ? 1. Added advantages available to shareholders 2. Indirect, non cash benefits provided to employees 3. Salaries paid 4. Benefits to manufacturers due to location of the producing unit 5. None of these
Last Answer : Indirect, non cash benefits provided to employees
Description : Which of the following is an example of an intangible asset ? 1. building 2. machinery 3. patent 4. cash 5. None of these
Last Answer : patent
Description : Bullion does not include 1. gold 2. silver 3. cash 4. both 1 and 2 5. None of these
Last Answer : cash
Description : Difference between marketing and selling is ________ a) Marketing focus on customer and selling focus on seller b) Marketing practices integrated approach and selling practices fragmented approach c) Marketing converts customer's need into ... 3. b and d 4. all a, b, c and d 5. None of these
Last Answer : all a, b, c and d
Description : Without which of the following a bank cannot survive 1. Cash 2. Computers 3. Customers 4. Credit 5. Competitors
Last Answer : Customer
Description : A cash-and-carry wholesaler would be expected to 1. provide transportation 2. handle high turnover products 3. provide credit 4. carry a wide variety of products 5. provide a wide range of services
Last Answer : handle high turnover products
Description : A marketer is most likely to set prices according to a cash -flow objective when a A)trial -and -error approach to the market is acceptable. B)certain market share must be maintained. C)quick return on investment is desired. D)product is expected to have a long life cycle.
Last Answer : C)quick return on investment is desired.
Description : BO Journal in form Pa 5 kept in a) All BOs b) Selected BOs c) Account office d) All the above
Last Answer : a) All BOs
Description : Which is an example of primary data? A. journal entry B. survey C. census data D. news article
Last Answer : C. census data
Description : What is the journal entry for January 4 purchase inventory of 4000 units at 8 per unit on account.?
Description : An account bag from the SO to HO contain a) The SO daily A/c, MO issue journal, MO paid list. b) List of SB transactions/List of SB documents c) Memo of IPO, Certificate, issued and discharged d) A rolls, daily list of PLI premia collected and paid e) All the above
Description : he journal entry to record a return of merchandise purchased on account under a perpetual inventory system would include a. Accounts Payable Sales Returns and Allowances b. Purchase Returns and ... Accounts Payable c. Accounts Payable Inventory d. Merchandise Inventory Cost of Goods Sold
Last Answer : d. Merchandise Inventory Cost of Goods Sold
Description : The journal entry to record a return of merchandise purchased on account under a perpetual inventory system would credit a. Accounts Payable. b. Purchase Returns and Allowances. c. Sales. d. Merchandise Inventory.
Last Answer : d. Merchandise Inventory.
Description : Bank marketing is aimed at providing services to satisfy customer's ____________ needs. 1. Physical 2. Financial 3. Primary 4. Market 5. None of these
Last Answer : Financial