A. Analyzing
B. Preparing financial statements
C. Recording financial information
D. Auditing the books of accounts
Correct Answer: Recording financial information ✔
Last Updated: July 27, 2017
Related MCQs
- Identify the correct sequence of accounting process
- In accounting an Economic event is referred to as:
- Credit memo or credit note No. is entered in which of the following journal?
- BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?
- Which of the following is known as an evidence that a transaction took place?
- Specialized journals are more adequate for which TYPE OF BUSINESSES?
- Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?
- SALE of old furniture” will be recorded in which of the following specialised journals?
- Debit note is the basis for recording a transaction in which of the following journals?
- Credit purchase of plant and machinery is recorded in which of the following journals?
- A brief explanation recorded below every entry in general journal is commonly known as__________?
- Cash purchases is recorded in which of the following specialized journals?
- Which of the following is a type of cash receipt journal + cash payment journal?
- Cash received from debtor is recorded in which of the following SPECIALIZED journals?
- Sales and purchase journal don’t record__________?
- Which of the following specialised journals will record “goods returned by the BUSINESS “?
- Another name of journal is__________?
- Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?
- Sales on credit is recorded in which of the following journal?
- Which of the following specialized journals records “goods returned by customers”?
- Which of the following account with normal balance is shown at the credit side of a trial balance?
- Which of the following account with normal balance is shown at the debit side of a trial balance?
- If debit balances = credit balances, trial balance only shows or check the __________ and it does not indicate that no errors were made during recording and posting.
- Which of the following will affect the agreement of a trial balance?
- Trial balance is commonly prepared?
- Debit balance = Credit balance in a trial balance indicates that:
- Which of the following is true about a trial balance?
- ________ is the common base for preparing a trial balance?
- If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?
- Trial balance is prepared to check accuracy of__________?
- Institute of Chartered Accountants of Pakistan was established in__________?
- Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of__________?
- A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of__________?
- The systems of accounting are __________?
- The unsold goods are __________?
- Debts which are payable in the course of a month are called __________?
- Income earned but not received is called __________?
- The assets which come into existence upon the happening of a certain event are called__________?
- The assets which have some market value are called __________?
- Assets having physical existence are called __________?
- When owner withdraw cash for its private use, it is called __________?
- Building and furniture are called __________?
- In support of business transaction, any written evidence is called __________?
- The concession received on the price of defective goods is called:
- Cash brought by the owner to start business is called__________?
- reduction in price is called:
- Sales return is also known as__________?
- When goods, in which business deals are sold, it is called__________?
- The excess of current assets over current liabilities is called:
- Goods return to supplier are known as:__________?
- The amount invested by the proprietor to start the business is called: