TCKTDN2

Is the following statement about purpose of sub-accounts true or false? Is accounting entity may open sub-accounts for its information management and control"

 

• T

• F

Is the following statement about Chart of Accounts true or false? "With the view to identifying accounts on the basis of information for financial statements, Chart of Accounts can be classified into two main groups, balance sheet accounts and profit and loss accounts".

• T

• F

In Vietnam, each accounting entity may only use one account system for financial accounting as prescribed by the Ministry of Finance. True or false?

• T

• F

According to Vietnamese accounting law, each business entity has only one financial accounting book system for a fiscal year. True or False?

• T

• F

. Each accounting book must have Opening balance and closing balance.

• T

• F

. All forms of accounting book system must include General Journal. True or False?

• T

• F

Inventories are valued according to their original prices. Where the net realizable value is lower than the original price, they must be valued according to the net realizable value. True or false?

• T

• F

Is the following statement about Chart of Accounts true or false? "With the view to identifying accounts on the basis of economic nature: Chart of Accounts can be classified into two main groups assets, liabilities"

• T

• F

In Viemam, each ling entity is allowed to open more detailed accounting accounts based on the characteristics of production and business activities of the entity.

 

• T

• F

Is the following statement about making double - entries true or false? "Making double entries needs identifying accounts that being used to present the accounting elements affected by economic transactions"

• T

• F