Fin 804 - FIN03004 : Maintain Financial Records

Account Receivable is classified as:

• Assets

• Liabilities

• Revenues

• Expenses

Account Payable is classified as:

• Assets

• Liabilities

• Revenues

• Expenses

Building is classified as :

• Assets

• Liabilities

• Revenues

• Expenses

Fees earned is classified as :

• Assets

• Liabilities

• Revenues

• Expenses

The ending balance of cash ledger account (T-account) is :

• BD 14980 in the debit side

• BD 14980 in the debit side

• BD 16420 in the debit side

• BD 16420in the credit side

All of the following are cash inflows EXCEPT :

• Taking a loan

• Collecting Account receivable

• Investment of cash

• Salary expense

Ahmed Company has a total cash inflows of BD30000 and a total cash outflows of BD 16000 the the net cash flow is equal to :

• BD 14000

• BD 45000

• BD 15000

• BD 30000

Cash flow is the net amount of cash and cash-equivalents moving into and out of a business.

True or false

• True

• False

Cash inflows – these are the movements of cash out of the business.

True or false

• True

• False

The total of debit balances should be equal to the total of credit balances in the trial Balance.

True or False

• True

• False