CSEC POA - 4th Form Year Review

CSEC POA - 4th Form Year Review

Assessment

Assessment

Created by

fayola Agaja

Business

9th - 12th Grade

13 plays

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23 questions

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1.

Multiple Choice

45 sec

1 pt

Accounting is the process of the 


i. gathering and recording information 

ii. raising funds for a business 

iii. providing information that influences decisions 


  1. I and II only 

  1. I and III only 

  1. II and III only 

  1. I, II, and III 

2.

Multiple Choice

45 sec

1 pt

Which of the following groups of persons may be LEAST interested in using accounting information to determine how well businesses are managed?

  1. Owners 

  1. Investors 

  1. Employees 

  1. Customers

3.

Multiple Choice

45 sec

1 pt

Which of the following states the correct order of the stages in the accounting cycle, before Final Accounts?

  1. Posting to the ledger, journalizing, trial balance 

  1. Posting to the ledger, trial balance, journalizing 

  1. Journalizing, trial balance, posting to the ledger 

  1. Journalizing, posting to the ledger, trial balance

4.

Multiple Choice

45 sec

1 pt

A balance sheet serves the purpose of

  1. showing the values of assets, liabilities and capital.

  1. calculating the profits and losses made.


  1. showing the value of the closing stock in hand.

  1. determining the available cash balance.

5.

Multiple Choice

45 sec

1 pt

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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