cameroon gce intermediate level international financial accounting / computer aided accounting 1

cameroon gce intermediate level international financial accounting / computer aided accounting 1

cameroon gce intermediate level international financial accounting / computer aided accounting 1

The trial balance if it fails to agree the difference
should be:

A Transferred to the balance sheet
B Written off against the profit and loss account
C Entered in the suspense account
D Entered in the capital account

_______________________________________________
2. What effect does a loss have on the net worth of a
business?

A It has no effect on net worth
B It decreases net worth
C It increases net worth
D It is a form of drawings

_______________________________________________
3. Which of the following best describes depreciation?

A The residual value of a non-current asset
B The part of the cost of fixed assets used up
during its period of use by the firm
C The replacement value of non-current assets
D The amount set aside to replace non-current
assets

PDF is loading please wait...


Leave a comment

Your email address will not be published. Required fields are marked *

Download our application
kawlo
sponsors Ads