| 1 |
In the preparation of worksheet the amounts in the trail balance are taken directly form the ______ |
- A. Ledger
- B. Trail balance
- C. Balance sheet
- D. None of these
|
| 2 |
Which one of the following is not considered the permanent part of the accounting record? |
- A. Journal
- B. Trail balance
- C. Ledger
- D. Work sheet
|
| 3 |
Financial statement is prepared from the amount given in |
- A. Trail balance columns
- B. Adjustments columns
- C. Cash columns
- D. Adjusted trail balance columns
|
| 4 |
A ______ is a large columnar sheet of paper |
- A. Worksheet
- B. Balance sheet
- C. Journal
- D. None of these
|
| 5 |
The excess of credit column over debit column in income statement is called |
- A. Net loss
- B. Net profit
- C. Cash balance
- D. Gross profit
|
| 6 |
Usually every ______ entry affect both income statement and balance sheet |
- A. Adjusting
- B. Work sheet
- C. Balance sheet
- D. Ledger
|
| 7 |
Worksheet contains ______ pairs of money columns |
- A. Five
- B. Four
- C. Three
- D. Two
|
| 8 |
Adjusting entries affect |
- A. Balance sheet
- B. Income statement
- C. Work sheet
- D. All of them
|
| 9 |
______ must be prepaid for testing ledger accounts, adjusting entries and financial statement |
- A. Work sheet
- B. Balance sheet
- C. Bank statement
- D. Trail balance
|
| 10 |
Adjusted ______ is used to prepare the income statement and balance sheet |
- A. Trail balance
- B. Ledger
- C. Balance sheet
- D. Bank statement
|
