| 1 |
Which one of the following in used to simplify work, to be done at the end of period |
- A. Balance sheet
- B. Income sheet
- C. Bank statement
- D. Work sheet
|
| 2 |
A sheet which minimizes the chances of errors to the maximum possible extent is called |
- A. Balance sheet
- B. Work sheet
- C. Paper sheet
- D. Income statement
|
| 3 |
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
|
| 4 |
The body of worksheet contains |
- A. Two pairs of money column
- B. Three pairs of money column
- C. Four pairs of money column
- D. Five pairs of money column
|
| 5 |
Work sheet is also used as a source to prepare ______ |
- A. Financial statement
- B. Income statement
- C. Position statement
- D. Bank reconciliation statement
|
| 6 |
______ simplifies work to be done at the end of the period |
- A. Work sheet
- B. Ledger
- C. Trail balance
- D. Balance sheet
|
| 7 |
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
|
| 8 |
Worksheet contains ______ pairs of money columns |
- A. Five
- B. Four
- C. Three
- D. Two
|
| 9 |
One way of avoiding errors in the permanent accounting records is to use a form which is called |
- A. Bank statement
- B. Trail balance
- C. Balance sheet
- D. Work sheet
|
| 10 |
In the preparation of the worksheet the amounts on the trail balance columns are taken directly from |
- A. Journal
- B. Ledger
- C. Trail balance
- D. Transaction
|
