Accounts - Principles of Accounts Past Questions and Answers

Bank reconciliation statement reconciles

A Bank and cash balances in cash book
B Bank balance in the cash book and bank statement balance
C Cash balance in the cash book and bank statement balance
D Bank balance brought down balance brought down and bank balance carried dowm in the cash book

Question 2127:

The unit which keeps government's books of accounts is the

A Central Bank
B Internal Audit department
C Treasury Department
D Accountand General's Department

Question 2128:

A customers who returns goods to the supplier because they are detective is issued a

A Debit note
B Credit note
C Delivery note
D Bank note

Question 2129:

Which of the following is not a debit item in a partnership appropriation account?

A Intereston drawings
B Partner's salary
C Interest on partner's capital
D Share of profit

Question 2130:

Use the following information to answer the given question<br/>\(\begin{array}{c|c} & Le \\ \hline \text{Cash in hand} & 15,000\\ \text{Balances as at 1st January, 2005:} & \\ \text{Subscriptions in arrears} & 6,000\\ \text{Subscription in advance} & 2,500\\ \text{Subscriptions received} & 18,000\\ \text{Expense for the year} & 6,500\\ \text{Balances as at 31st December, 2005:} & \\ \text{Subscriptions in arrears} & 3,000 \\ \text{Subscriptions in advance} & 1,500\end{array}\)<br/>Accumulated fund at the beginning of the year was

A Le 23,500
B Le 18,500
C Le 11,500
D Le 13,000