1.
Overlooking stock costing 300,000Rwf in the year-end stocktake will:
2.
True or False: Your client was paid in cash for a service that they provided. They’ve asked you to leave it off their financial records. Since you are employed by the client, you should do what they ask.
3.
Entering the balance of 20,000,000Rwf on an expense account on the wrong side of a Trial Balance would throw the Trial Balance out by:
4.
Additional information
Assuming that over the 2020 fiscal year, assets increased by $120,000 and liabilities increased by $72,000, use the accounting equation to determine what Mike’s Owner's equity will be as of December 31, 2020?
(Enter your answer as a whole number. Don't use a decimal.)
5.
A basic rule of double-entry bookkeeping is:
6.
Cash received this year from a debtor whose account was totally written off last year should be treated as:
7.
Overlooking an item of stock costing 100,000Rwf (selling price 150,000Rwf) during the year-end stocktaking would result in:
8.
Additional information
Assuming that assets decreased by $52,000 and liabilities increased by $24,000 during 2020, use the accounting equation to calculate equity at the end of 2020.
(Enter your answer as a whole number. Don't use a decimal.)
9.
Which of the following best defines a debit as it’s used in double-entry accounting?
10.
The two main branches of accounting are:
11.
Accounts receivable would be an example of what kind of account?
12.
Cash received from P. Brown (a debtor) was posted in error to the account of R. Brown. The correcting entries for this would be:
13.
Short-term Investments would be an example of what kind of account?
14.
Expenditure incurred on repairs to premises automatically causes:
15.
Treating motor expenses of 5,000 as the purchase of a new car would:
16.
Charging the purchase of a Fixed Asset to the Purchases Account will result in:
17.
Writing off a debt due by a customer for goods purchased last month would require which of the following entries?
18.
The owner’s stake in the company is defined as:
19.
The proceeds from the sale of a fixed asset are debited back to:
20.
The primary purpose of Accounting is to provide information about:
21/11/2024
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the exam was medium
thx
the exam was somehow on fundamental accounting only
the test was a little difficult
Where can we get corrections for the questions we fail