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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 1561:
Which of the following is the effect of a reduction in the provision for doubtful debts?
  • A Reduction in net profit
  • B Reduction in cash balance
  • C Reduction in gloss profit
  • D Increase in gross profit
  • E Increase in net profit
View Answer & Explanation
Question 1562:
Which of the following is the basis of accounting in the Civil Service?
  • A Accrual
  • B Cash
  • C Income
  • D Expenditure
  • E Profit
View Answer & Explanation
Question 1563:
The reward given to a debenture holder is called
  • A Profit
  • B Reserve
  • C Premium
  • D Dividend
  • E Interest
View Answer & Explanation
Question 1564:
Which of the following is not a debit entry on a sales ledger control account?
  • A Goods sold
  • B Cash received
  • C Dishonoured cash
  • D Payment to debtors for claim
  • E Interest charges
View Answer & Explanation
Question 1565:
If incorrect entries on the debit side equal other incorrect entries on the credit side, the error is that of
  • A Ordinary entry
  • B Omission
  • C Commission
  • D Compensation
  • E Principle
View Answer & Explanation