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WorksheetsREVISION TOPIC 1
Total questions: 10
Worksheet time: 5mins
1. The business successfully applies the separate entity concept.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
2. The shareholders start to create a conflict of interest with the businesses.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
3. There is no preparation of financial statements by the company.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
4. Digital reporting will reduce the cost of printing.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
5. The profit and loss account is to provide the returns to the owner when there is a need for the new ledger.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
6. The declaration of the assets' ownership needed in the systematic recording.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
7. The company starts to balance between financial and non-financial performance.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
8. The company did not declare any unrecoverable debt in the financial statements.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
9. There is limited information on the recording that leads to the limitation to analyze the company's performance.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
10. The fixed assets were properly recognized based on value, rate, and depreciation methods.
The age of record-keeping
The birth of double entry
The age of stagnation
The age of scientific accounting
21st century
