#1-10 Financial Accounting Questions & Answers

/ CBT Q&A, Exam Questions, Financial Accounting / By

Please enter your email:

1. When the assert is purchased using cheque or cash

 
 
 
 
 

2. The collection of the balance in all the ledger account in one statement is referred to as

 
 
 
 
 

3. The art of recording Business transaction so that financial positions of an undertaking and its relationship to both its proprietors and outside persons are duly communicated is called.

 
 
 
 
 

4. If revenue expenditure is erroneously treated as capital expenditure, then the result will be

 
 
 
 
 

6. In a bank reconciliation statement, a repurchased bank draft is treated as

 
 
 
 
 

7. Uncle Charles transfer his pickup van valued N117,675 to his business

 
 
 
 
 

9. Paid Jolape amount owed N3,600 less cash discount of 1%

 
 
 
 
 

10. In a circumstance, where the resources of other parties other than the Owners have been invested in the business we have.

 
 
 
 
 

Disclaimer
"Please be aware that the information provided on this website is for general reference only. We NEVER REQUEST FOR MONEY, We make every effort to ensure that the information is accurate and up-to-date, but we cannot guarantee its completeness or accuracy. The information provided on this website should not be taken as professional advice, and we recommend that you seek advice from a qualified professional before making any travel plans. We cannot accept any liability for any loss or damage arising from the use of the information provided on this website."

Related posts:

  1. 2 Questions on Ledger Entries +Video Guide
  2. Questions on 1,2,3 Column Cash Book
  3. Bank Reconciliation Statement +Video Guide
  4. Questions on Budgeting (Cost Accounting)
  5. Revision Questions and Answers on Business Law (CBT)
  6. Ledger Accounts and Trial Balance +Video Guide
  7. 1, 2, 3 Columns Cash Book +Video Guide
  8. Subsidiary Books of Accounting; Types & Summary
  9. Suspense Accounts, Errors, and its Corrections
  10. Accounting Concepts And Convention
  11. 10 Questions on Subsidiary Books