| 1 |
______ simplifies work to be done at the end of the period |
- A. Work sheet
- B. Ledger
- C. Trail balance
- D. Balance sheet
|
| 2 |
______ is prepared to avoid errors in the permanent records of accounting |
- A. Work sheet
- B. Ledger
- C. Bank statement
- D. Balance sheet
|
| 3 |
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
|
| 4 |
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
|
| 5 |
A ______ is a large columnar sheet of paper |
- A. Worksheet
- B. Balance sheet
- C. Journal
- D. None of these
|
| 6 |
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
|
| 7 |
Expired cost of fixed assets means |
- A. Appreciation
- B. Amortization
- C. Depreciation
- D. None of these
|
| 8 |
______ must be prepaid for testing ledger accounts, adjusting entries and financial statement |
- A. Work sheet
- B. Balance sheet
- C. Bank statement
- D. Trail balance
|
| 9 |
Adjusting entries affect |
- A. Balance sheet
- B. Income statement
- C. Work sheet
- D. All of them
|
| 10 |
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
|
