Accounts - Principles of Accounts Questions
Question 1971:
Which of the following is a limitation of the money measurement concept?
- A Efficient management is not disclosed
- B There is no basis for comparison
- C Inter-period comparison is impossible
- D It does not allow choice of methods
Question 1972:
The account that shows both the cash and bank transactions of an enterprise is
- A Appropriation account
- B Trading account
- C Profit and loss account
- D Cash book
Question 1973:
A control account is
- A An imprest system
- B A statement of affairs
- C A bank reconciliation statement
- D A self balancing ledger system
Question 1974:
In a not-for-profit making organization, the cash book is summarized in the form of
- A Balance sheet
- B Income and expenditure account
- C Receipts and expenditure account
- D Receipts and pryments account
Question 1975:
Which of the following is found in a receipts and payments account?
- A Accruals
- B Prepayments
- C Sepreciation of fixed assets
- D Purchase of fixed assets