CSEC POA - 4th Form Year Review

Assessment
•
fayola Agaja
•
Business
•
9th - 12th Grade
•
13 plays
•
Medium
Student preview

23 questions
Show answers
1.
Multiple Choice
Accounting is the process of the
i. gathering and recording information
ii. raising funds for a business
iii. providing information that influences decisions
I and II only
I and III only
II and III only
I, II, and III
2.
Multiple Choice
Which of the following groups of persons may be LEAST interested in using accounting information to determine how well businesses are managed?
Owners
Investors
Employees
Customers
3.
Multiple Choice
Which of the following states the correct order of the stages in the accounting cycle, before Final Accounts?
Posting to the ledger, journalizing, trial balance
Posting to the ledger, trial balance, journalizing
Journalizing, trial balance, posting to the ledger
Journalizing, posting to the ledger, trial balance
4.
Multiple Choice
A balance sheet serves the purpose of
showing the values of assets, liabilities and capital.
calculating the profits and losses made.
showing the value of the closing stock in hand.
determining the available cash balance.
5.
Multiple Choice
Which of the following are examples of Current Liabilities?
i. Mortgages
ii. Accounts Payable
iii. Accrued Wages
I and II only
I and III only
II and III only
I, II and III
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