C02 QUIZ

What is the meaning of operating expenses?

• Costs paid by employees while serving in an organization.

• Costs borne by the supplier throughout the transaction contract in effect until the

  end of the term.

• Costs incurred by the business they from the location take business rent and run

  the business rented.

• Cost incurred by the company in time frame to take advantage of

  services provided by public utility companies.

What is the purpose of keeping company expense reports?

• For secured loans.

• For audit purposes.

• To use the company's remaining expenses.

• For the company's money withdrawal process.

Arrange the general journal format according to the correct procedure.

I. Details

II. Debit amount

III. Credit amount

IV. Transaction date

• I, II, III IV

• II, III, I, IV

• III, I, II, IV

• IV, I, II, III

Arrange the general journal format according to the correct procedure.

I. Details

II. Debit amount

III. Credit amount

IV. Transaction date

• I, II, III IV

• II, III, I, IV

• III, I, II, IV

• IV, I, II, III

What does the expense report mean?

• Weekly report of company losses.

• Reports related to company assets.

• Monthly financial report of the company.

• A report that documents expenses incurred by the business or by business

  employees and can be maintained on a monthly, quarterly or yearly basis.

What does the expense report mean?

• Weekly report of company losses.

• Reports related to company assets.

• Monthly financial report of the company.

• A report that documents expenses incurred by the business or by business

  employees and can be maintained on a monthly, quarterly or yearly basis.

What is an analysis form?

• Closing record of weekly expenses.

• Record of calculation of total mid-year expenses.

• Account opening records and used to analyse each category to make spending

  allocations each month.

• Closing notes and used to analyse each category to make expenditure

  allocations in the following year.

What is an analysis form?

• Closing record of weekly expenses.

• Record of calculation of total mid-year expenses.

• Account opening records and used to analyse each category to make spending

  allocations each month.

• Closing notes and used to analyse each category to make expenditure

  allocations in the following year.

What is an analysis form?

• Closing record of weekly expenses.

• Record of calculation of total mid-year expenses.

• Account opening records and used to analyse each category to make spending

  allocations each month.

• Closing notes and used to analyse each category to make expenditure

  allocations in the following year.

What documents are involved when preparing financial statements?

• Memo

• Invoice

• Agenda

• Minutes of meetings