Accounts - Principles of Accounts Questions
Question 2651:
A trial balance is
- A An attempt to balance the accounts
- B The credit balances of the accounts
- C List of all balances extracted from the ledger
- D The debit balances of the accounts
- E Balance sheet balances
Question 2652:
The balance sheet is a statement showing
- A All assets and liabilities
- B All balances
- C Credit entries of the business
- D Debit entries of the business
- E Caoital and liabilities
Question 2653:
Which of the following entries would be made for goods bought and paid for immediately? Debit
- A Cash account, credit sales account
- B Purchases account; credit cash account
- C Cash account; credit purchases account
- D Purchases account; credit sales account
- E Purchases account; credit goods account
Question 2654:
The purpose of a trading account is to ascertain
- A Sales
- B Gross profit or loss
- C Net profit or loss
- D Carriage outwarrds
- E Appropriated profit
Question 2655:
which of the following is not an Appropriation account item for a company?
- A Inerest on drawings
- B Proposed dividends
- C Interim dividends
- D Provision for taxation
- E General reserve