Question 1

Which of these events would not be recorded by accountants?

Accepted Answer

A) Received an order from a customer 
B) The owner paid his daughter's school fees from the business bank account 
C) Credit sale 
D) Depreciation on motor vehicles calculated at the end of the firm's financial year. 
A) Received an order from a customer 
B) The owner paid his daughter's school fees from the business bank account 
C) Credit sale 
D) Depreciation on motor vehicles calculated at the end of the firm's financial year.

Question 2

A chronological record of all the transactions of an entity is provided in the:

Accepted Answer

A) Ledger 
B) Journal 
C) Balance sheet 
D) Trial balance 
A) Ledger 
B) Journal 
C) Balance sheet 
D) Trial balance

Question 3

Which statement relating to the general journal is incorrect?

Accepted Answer

A) The debit and credit effects of each transaction are shown together 
B) It is referred to as a book of original entry 
C) It provides a record of transactions in date order 
D) It can use the running balance format or the 'T' format 
A) The debit and credit effects of each transaction are shown together 
B) It is referred to as a book of original entry 
C) It provides a record of transactions in date order 
D) It can use the running balance format or the 'T' format

Question 4

The liability account recording GST collected by an entity from its customers is titled GST ______________.

Accepted Answer

The answer of The liability account recording GST collected by...

Question 5

Select the account types for these items:
?	Prepaid insurance
?	Mortgage
?	GST Collected
?	Light and power

Accepted Answer

A) Expense,liability,liability,equity 
B) Asset,equity,asset,expense 
C) Asset,liability,liability expense 
D) Expense,liability,asset,liability 
A) Expense,liability,liability,equity 
B) Asset,equity,asset,expense 
C) Asset,liability,liability expense 
D) Expense,liability,asset,liability

Which of these events would not be recorded by accountants?

A chronological record of all the transactions of an entity is provided in the:

Which statement relating to the general journal is incorrect?

The liability account recording GST collected by an entity from its customers is titled GST ______________.

Select the account types for these items: ? Prepaid insurance ? Mortgage ? GST Collected ? Light and power

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters

Exam 3: Recording Transactions

Which of these events would not be recorded by accountants?

A chronological record of all the transactions of an entity is provided in the:

Which statement relating to the general journal is incorrect?

The liability account recording GST collected by an entity from its customers is titled GST ______________.

Select the account types for these items: ? Prepaid insurance ? Mortgage ? GST Collected ? Light and power

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters