FINANCIAL ACCOUNTING SS 2 SECOND TERM
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1 / 30
_________ expenditure are payments made on running the daily activities of business enterprises .
2 / 30
Revenue expenditure when understated has the following effects on the profit except ________
3 / 30
The accounting concept that States the rules of double entry book -keeping is known as ________
4 / 30
In departmentalized organization, the accounting process entails keeping separate _______ and ledger books for each of the departments.
5 / 30
_______ can simply be described as the transformation of raw materials into finished goods.
6 / 30
The aim of departmental, trading, profits and loss account is to compare trading result and to assist the business owner in formulating __________
7 / 30
The followings are example of capital expenditure except ________
8 / 30
Revenue expenditure consists of cost of ___________ of fixed assets.
9 / 30
The followings are the example of revenue expenditure _________
10 / 30
At the end of the financial year, the accountants bring together the separate journal and ledger books to __________ conpare and determines the best department.
11 / 30
________ concept explains that income in recognized as soon as goods are exchanged for valuable consideray.
12 / 30
Cost of production is the total ____________ incurred in the production of goods.
13 / 30
Manufacturing account are prepared to ascertain the _____ of goods manufactured.
14 / 30
The running of the factory but not directly related to the production process refers to ___________
15 / 30
Capital expenditure are expenses that results in _______ of value of fixed assets the balance sheet.
16 / 30
Revenue expenditure can better be described as $_______
17 / 30
A generally accepted points of opinion on ways of doing a thing is called ____________
18 / 30
Revenue expenditure are expenses _______ to the profit and loss accounts.
19 / 30
_________ are usually not separated to reflect expenses incurred by each department.
20 / 30
Going concern assumes that an enterprises continues __________
21 / 30
The cost directly related in the production process known as ________.
22 / 30
Manufacturing determines the ________ on the manufacturing process.
23 / 30
The manufacturing firms do manufacture their goods or product before they are sold to their _________.
24 / 30
Capital expenditure consists of cost of _______ assets and other associated cost.
25 / 30
The following are examples of accounting concept and conventions except ______
26 / 30
Capital expenditure are ______ made on items of capital nature.
27 / 30
The cost of production is charged to determine profit on __________
28 / 30
________ is the ratio used here to number of departments existing.
29 / 30
The following is a method of treating disposal of asset __________
30 / 30
Your score is
The average score is 43%
