1.
Charging the purchase of a Fixed Asset to the Purchases Account will result in:
2.
Which one of the following would never be shown in the Balance Sheet?
3.
Expenditure incurred on repairs to premises automatically causes:
4.
The Accounting Equation means that:
5.
In the year-end financial statements for a sole trader, net profit for the year is:
6.
Short-term Investments would be an example of what kind of account?
7.
A basic rule of double-entry bookkeeping is:
8.
Accounts payable would be an example of what kind of account?
9.
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:
10.
What tasks would a bookkeeper do?
11.
The proceeds from the sale of a fixed asset are debited back to:
12.
In the accounts of sole traders, goods taken from stock during the year for personal use by the owner are treated as follows:
13.
As a book of first entry, the Journal, sometimes referred to the General Journal:
14.
Accounts receivable would be an example of what kind of account?
15.
Which of the following is a correct rule of double entry bookkeeping?
16.
Debits are always represented on what side of a T-chart?
17.
The Current Ratio differs from the Acid Test Ratio because:
18.
The statement that portrays finacial position of the entity is:
19.
The owner’s stake in the company is defined as:
20.
Overlooking stock costing 300,000Rwf in the year-end stocktake will:
02/04/2025
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the exam was medium
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the exam was somehow on fundamental accounting only
the test was a little difficult
Where can we get corrections for the questions we fail