Principle of Accounting 2016 | Study Mode

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Question 31
A
I,III,IV
B
I,II,III
C
I,II,IV
D
I and IV
Explanation

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Correct option: B
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Question 32
A
#300
B
#400
C
#600
D
#200
Explanation

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Correct option: B
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Question 33
A
stock account
B
sales account
C
total debtors control account
D
total creditors control account
Explanation

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Correct option: D
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Question 34
A
stock account credit drawings
B
drawing account, credit stock account
C
personal account credit cash account
D
cash account, credit personal account
Explanation

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Correct option: B
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Question 35
A
#744,800
B
#760,000
C
#784,000
D
#744,000
Explanation

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Correct option: D
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Question 36
A
Accrued expenses on annual dances
B
Subscriptions due but not yet received
C
interest on bank deposit
D
Depreciation of the club house
Explanation

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Correct option: C
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Question 37
A
capital reserve
B
revenue reserve
C
net income
D
net loss
Explanation

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Correct option: A
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Question 38
A
virement
B
financial regulations
C
supplementary estimate
D
warrant
Explanation

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Correct option: B
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Question 39
A
asertian the contribution of each department to the organization
B
ascertain interdepartmental transfer
C
build other branches
D
know the number of departments in the organization
Explanation

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Correct option: A
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Question 40
A
ascertain the amount of profits or losses for the enterprise
B
ascertain the amount of profits or losses for each department
C
ascertain the cost of running the organization
D
offset the loss of each department
Explanation

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Correct option: B

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