- Fundamentals of Accounting - Easy 1
- Quick Multiple Choice Quiz, Test Yourself!
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What are the Three Main Financial Statements?
Income Statement | Trial Balance | Balance Sheet
Balance Sheet | Cash Flow | Funds Flow Statement
Income Statement | Cash Flow | Balance Sheet
Why is Depreciation Not Charged on Land?
It is Not Permitted Legally
Because Useful Life of Land Can't be Determined
Accounting Standards Don't Allow Dep. on Land
Outstanding Expense is a ____________.
Why is Closing Stock not Shown in Trial Balance?
Because it appears in Trading Account
Because it is Included in Purchases
Trial of Closing Stock isn't Possible
Amortization is Charged on?
Which of these may be a Contingent Liability?
What is sent to a Buyer by the Seller When Goods are Returned?
A Contra Entry is Posted on Both Sides of a ___________?
Petty Cash Book
"Debit What Comes In, Credit What Goes Out" is used for?
Which A/C is used Temporarily to Carry Doubtful Receipts and Disbursements?
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Accounting Fundamentals – Easy 1
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