Financial Services 804 (General Revision)

Building is classified as :

• Asset

• Liability

• Revenue

• Expense

Dividends are classified as :

• Assets

• Liabilities

• Revenues

• Expenses

Which of the followings has a normal balance in the debit side?

• Capital

• Notes Payable

• Sales

• Supplies

All of the following are cash inflows except :

• Cash investment

• Selling an asset

• Cash Revenues

• Withdrawals

Osama Company has a total cash inflows of BD 55000 and a total cash outflows of BD 15000 the the net cash flow is equal to :

• BD 40000

• BD 70000

• BD 55000

• BD 15000

The last step in the accounting cycle is :

• Journals

• Source documents

• Ledger

• Financial Statements

All of the following are internal users EXCEPT :

• Owners

• Seniors

• Employees

• Investors

A statement of financial position is :

• Balance sheet

• Income statement

• Owners equity statement

• Cashflow statement

An objective examination and evaluation of the financial statements to make sure that the records are accurate is :

• Audit

• Review

• Revision

• Inspection

The Last step in checking financial data is :

• Self audit

• Peer check

• Cross Check

• Owner approval