1.
If the Owner’s Capital amounted to 100,000Rwf, Long Term Loans to 50,000Rwf and Drawings to 7,000Rwf and the Balance Sheet Total was 200,000Rwf, the Net Profit for the year was:
2.
The two main branches of accounting are:
4.
Overlooking stock costing 300,000Rwf in the year-end stocktake will:
5.
If the total cost of outsource service to the outside professional accountant is 100,000Rwf. what is withholding tax included?
6.
A Current Asset is one which:
7.
Overstating an Accrual as at the year-end would:
9.
Which of the following best defines a debit as it’s used in double-entry accounting?
10.
An owner invests $1000 in the company. This transaction impacted the checking account and the owner’s equity account. In your journal entry, which account do you credit?
11.
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.)
12.
What the company owns or controls and expects to gain value from is defined as:
13.
If Gross Profit for the year was 42,000,000Rwf, Miscellaneous Income came to 5,000,000Rwf, and Expenses amounted to 35,000,000Rwf, the Net Profit was:
14.
The statement that portrays finacial position of the entity is:
15.
The credit column in a trial balance contains only balances on:
16.
Cash received from P. Brown (a debtor) was posted in error to the account of R. Brown. The correcting entries for this would be:
17.
What tasks would a bookkeeper do?
18.
Short-term Investments would be an example of what kind of account?
19.
Writing off a debt due by a customer for goods purchased last month would require which of the following entries?
20.
In the accounts of sole traders, goods taken from stock during the year for personal use by the owner are treated as follows:
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