CSEC POA PAPER 1

Front

Which financial statement shows the value of a business' assets?

Back

Balance sheet

Front

The MAIN internal users of accounting information are

Back

managers

Front

Benefits of using accounting software: I. Integrated analysis of information II. Almost immediate updating of records III. Programmable to recognize irregular entries

Back

I, II and III

Front

Order of stages in the accounting cycle before final accounts?

Back

Journalizing, posting to ledger, trial balance

Front

The following information refers to the assets and liabilities of Mr. Jones. Cash at bank $ 800 Inventory 400 Payables 600 Receivables 125 Bank overdraft 250 Cash in hand 500 From the information above, Mr. Jones' capital amount is

Back

$975

Front

What is usually used to complete a General Journal entry?

Back

Narration

Front

Refer to the information in the table and calculate: What is the total value of the fixed assets?

Back

$14 500

Front

The closing capital is (Options: $20 000, $20 700, $21 800, $22 800)

Back

$20 000

Front

Refer to the information in the table and calculate: The working capital is

Back

$5 500

Front

In order to avoid writing numerous cheques for small amounts, a firm may set up a

Back

petty cash fund