Principle of Accounting 2016 | Study Mode

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Question 1
A
# 1,978
B
# 1962
C
# 1,522
D
# 2,522
Explanation

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Correct option: D
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Question 2
A
#184, 000
B
#196,500
C
#212,000
D
#168,500
Explanation

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Correct option: D
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Question 3
A
helps in the preparation of the balance sheet
B
prevents fraud and theft of item of the business
C
serves as a book of instruction to the bookkeeper
D
help the banking industry to be efficient
Explanation

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Correct option: B
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Question 4
A
# 60,700
B
#23,500
C
#60,500
D
#82,500
Explanation

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Correct option: C
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Question 5
A
business decision making
B
due process in business
C
motivating employees
D
determining the work force
Explanation

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Correct option: A
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Question 6
A
return on capital employed
B
gross profit margin
C
net profit margin
D
return on equity
Explanation

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Correct option: A
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Question 7
A
accounting ratios
B
income and expenditure extract
C
balance sheet extract
D
found accounting
Explanation

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Correct option: A
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Question 8
A
accrued expenses
B
lighting and heating
C
salaries and wages
D
general expenses
Explanation

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Correct option: A
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Question 9
A
bank statement and debit note
B
cheque book and cashbook
C
cheque stub and deposit slip
D
payslip and credit invoice
Explanation

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Correct option: A
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Question 10
A
Accumulated depreciation
B
Retained profit
C
Share premium
D
Loss on forfeited shares
Explanation

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Correct option: B

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