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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 2316:
Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of
  • A Transposition
  • B Compensation
  • C Omission
  • D Commission
View Answer & Explanation
Question 2317:
Which of the following is added to the proprietor's capital?
  • A Net profit
  • B Gross profit
  • C Net sales
  • D Gross sales
View Answer & Explanation
Question 2318:
The balance in a sales Ledger Counter Account indicates the
  • A Difference between debtors and creditors
  • B Total sales
  • C Total purchases
  • D Total debtors
View Answer & Explanation
Question 2319:
A temporary difference of bank occurs in only one account with the second figure stated, this is an error of
  • A Adjustment account
  • B Suspense account
  • C Imprest account
  • D Appropriation account
View Answer & Explanation
Question 2320:
In the preparation of bank reconciliation statement cheque are
  • A Added to the balance as per bank statement
  • B Deduced from the the balance as per bank statement
  • C Added to the balance as per bank statement
  • D Ignored totally
View Answer & Explanation