Accounting Mcqs

Q.  Which of the following will affect the agreement of a trial balance?

a. Complete omission of a transaction
b. Partial omission of a transaction
c. Error of principle
d. Compensating errors


ANSWER: See Answer
 
No explanation is available for this question!
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MCQs:  Credit memo or credit note No. is entered in which of the following journal?
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MCQs:  In accounting an Economic event is referred to as:
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MCQs:  Identify the correct sequence of accounting process
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MCQs:  Bookkeeping mainly concerns with which part of accounting process?
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MCQs:  Financial accounting provides financial information to all of the following external users except:
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MCQs:  For which step of accounting process the accountants of business entity prepare financial statements?
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MCQs:  Keeping the log of financial information in books of original entries is called__________?
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MCQs:  Auditing is what?
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MCQs:  Which of the following is the external user of financial statements?
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MCQs:  Which of the following is the internal user of financial statements?
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MCQs:  _________ is the first phase of accounting cycle?
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MCQs:  Financial statements differ from management account because
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MCQs:  ________ is a separate legal entity that Total capital can be divided in many shares.
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MCQs:  An asset posses which of the following?
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MCQs:  Liabilities are which of the following?
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MCQs:  ________ is the gross inflow of economic benefits?
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MCQs:  The gross decrease in economic benefits for the business are what?
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MCQs:  An asset must be _______ by the business to be shown as an asset in its “balance sheet”
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MCQs:  Liability are arisen from which of the following events?
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MCQs:  Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?
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