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Worksheetsfinancial accounting
Total questions: 20
Worksheet time: 10mins
dividend paid is
charge to profit
allocation of profit
both a and b
none of the above
marshalling of balance sheet means
the order of assets and liabilities
totalling and arranging of assets and liabilities
finding balance in balance sheet
the balance sheet discloses the financial position of a business
for a given period
at a specific point of time
on a certain fixed date
all of the above
the unfavourable balance of profit and loss account should be
subtracted from liabilities
subtracted from capital
subtracted from current assets
added in liabilities
recording of transactions and events as and when they occur and classifying them into suitable account heading is the subject matter of
financial accounting
cost accounting
management accounting
book keeping
book keeping is mainly concerned with the recording of financial data relating to the-------- in significant and orderly manner
business
personal
company
monetary
unearned income a/c is
asset
liability
expense
accrued income
which of the following is current asset
land and building
machinery
cash
furniture
when a liability is decreased or reduced it is registered on the
debit or left side of the a/c
credit or right side of the a/c
debit or right side of the a/c
credit or left side of the a/c
where did trial balance originate
italy
india
russia
america
who is father of accounting in india
k.s. aiyer
t.n. manoharan
suresh prabhu
accounting doesn't record non - financial transactions because of
entity concept
accural concept
measurement concept
accounting principles are generally based on
practicability
subjectivity
objectivity
who is considered as the father of modern accounting
luca friar pacioli
j.betty
henry fayol
gestonburg
a list of assets,liabilities and owners equity of a business enterprise as of a specific date is
income statement
cash flow statement
balance sheet
profit and loss account
capital + liability =
total assets
losses
current asset
fixed asset
there are 2 systems of accounting i.e cash basis system of accounting and ------- basis of accounting
double entry
accural
single entry
dual aspect
general reserve is created on the basis of convention of
conservatism
uniformity
materiality
full disclosure
the ------ records daily transactions of a business in the order in which they occur
journal
ledger
account
trial balance
an account is a summary of ---- at one place relating to a particular head
all transactions
some transactions
journal
none
