Accounts - Principles of Accounts Questions
Question 1681:
An expense becomes an accrual because it
- A Is due for payment
- B Is a Profit and Loss Account item
- C Is a Trading Account item
- D Is to be paid within the next one year
- E Must appear in the balance sheet
Question 1682:
The amount for which a business is sold is known as
- A Goodwill
- B Capital reserve
- C Purchase consideration
- D Premium
- E Equity
Question 1683:
The person who is responsible for the formation of a company is called the
- A Promoter
- B Dividend
- C Shareholder
- D Director
- E Subscriber
Question 1684:
The amount of a company's profit given to a shareholder is known as
- A Premium
- B Dividend
- C Insterst
- D Allotment
- E Warrant
Question 1685:
Which of the following best described the path of a transaction?
- A Source documents to Journal to Ledger
- B Source documents to Ledger to Journal
- C Journal to Ledger to source documents
- D Journal to source documents to Ledger
- E Ledger to Joural to source documents