FINANCIAL ACCOUNTING SS 1 SECOND TERM
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1 / 30
Which of the following accounts normally has a credit balance?___________
2 / 30
The process of entering transaction from one book to another is __________.
3 / 30
A trial balance is prepared to ___________.
4 / 30
Which of the following books of account is part of the double entry system? _________
5 / 30
Trade discount is _________
6 / 30
The _________ of double entry is also applicable in the three column cash book.
7 / 30
The cash account and the bank account will appear__________ in the cash book.
8 / 30
________ discount encourages bulk purchases.
9 / 30
The ________ received column is on the credit side.
10 / 30
__________ also functions both as a ledger and a subsidiary book of account.
11 / 30
These are the reasons for granting discounts except ___________.
12 / 30
The maximum level of cash held by a cashier under an imprest system is a _____________
13 / 30
The cash book is part of the ________ entry system.
14 / 30
The ___________ occur when there is no cash left in the cash account in which case the balance will be nil.
15 / 30
Single column cash book operated by a business and it is used to record all cash ________.
16 / 30
The cash book is a subsidiary book of account that is used to ______ the payments and receipt of money.
17 / 30
In two column cash book, any money paid out is ________ in the cash book.
18 / 30
The payment of #6000 for electricity was debited to entertainment account. This is an error of ___________
19 / 30
Single column cash book operated by a business and it is used to record all cash _______.
20 / 30
If surplus cash is paid into the bank or money may be withdrawn from the bank to the office is known as _______ .
21 / 30
Cash discount recorded in the _________
22 / 30
Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of _______
23 / 30
Which of the following is not an example of a real account?_________
24 / 30
Which of the following books of original entry also serves as a ledger?_________ .
25 / 30
The lodgment of business cash into the business bank account is an example of _______
26 / 30
The discount allowed column is on the ________ side.
27 / 30
In ___________ column cash book, the owner will realize the need to open a bank account where the business money can be kept.
28 / 30
The personal accounts of creditors are found in the __________.
29 / 30
The balance on the cash column will always be brought down as a _________ balance at the start of the next month.
30 / 30
Discounts __________ the sales of a business.
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The average score is 48%
