Accounting Cycle 11-20

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

None of given options

Journal Voucher

Cash Voucher

Payment Voucher

Correct! Wrong!

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

Combined entry

Double entry

None of given options

Compound entry

Correct! Wrong!

Losses normally have?

Not mentioned

All of the given options

Credit balance

Debit balance

Correct! Wrong!

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

Delivery note

Advice note

Statement

Invoice

Correct! Wrong!

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

Recording, identifying, and communicating

Recording, totaling, and identifying

Communicating, recording, and identifying

Identifying, recording, and communicating

Correct! Wrong!

Which of the following is an advice of employee earning?

Pay slip

Quotation

Advice note

Purchase order

Correct! Wrong!

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

Source documents

Balance sheet accounts

Cost of goods sold

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!

Which of the following is not a voucher?

Ledger voucher

Receipt voucher

Payment voucher

Journal voucher

Correct! Wrong!

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

Accrual basis of accounting

Cash basis of accounting

None of the given options

Cost accounting

Correct! Wrong!

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

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

Losses normally have?

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

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

Which of the following is an advice of employee earning?

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?

Which of the following is not a voucher?

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

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