Q1 Debts which in the opinion of management of an organization may not be fully recovered are called
Q2 The amount set aside out of profit earned by a company and constitute part of shareholders fund is called
Q3 Which of the following is not a type of reserve?
Q4 Which of the following statements is incorrect?
Q5 A statement sent periodically usually once a month by a seller to his customers, showing the position of their accounts up to a certain date
Q6 A statement sent periodically, usually once a month by a buyer to his suppliers, showing the position of their accounts up to a certain date.
Q7 Reconciling the bank column of the cash book and the bank statement balances is treated under
Q8 The process of making the balance on the bank column of a cash book to agree with the balance on the bank statement is
Q9 The differences between the balances of bank column of the cash book and bank statement could be as a result of the following except
Q10 Cheques which have been issued for payment by a bank account holder but have not been presented for payment at the bank as at the date the bank prepared the bank statement are called
Q11 Cheques deposited into the bank but have not been credited to the customer account by the bank as at the date of preparing the bank statement are called
Q12 One of the following is not a reason for dishonoured cheques:
Q13 One of the following is not an advantage of bank reconciliation statement
Q14 The principles upon which preparation of accounting records are based and which are generally accepted is
Q15 A subsidiary book which can conveniently cater for recording of special transaction like revaluation of asset is
Q16 An important functions of accounting which shows expenses, assets, financial position at a given period of time is
Q17 Any transaction that is recorded twice in an account through a debit and a credit entry in the same account is called
Q18 The money spent in an organization in order to generate income either now or in the future is
Q19 The cost of transporting goods meant for resale into the organization is
Q20 A set of numbers and codes that defines each account head and also differentiate between classes of account is
Q21 Debts which in the opinion of management of an organization may not be fully recovered are called
Q22 The amount set aside out of profit earned by a company and constitute part of shareholders fund is called
Q23 Which of the following is not a type of reserve?
Q24 Which of the following statements is incorrect?
Q25 A statement sent periodically usually once a month by a seller to his customers, showing the position of their accounts up to a certain date
Q26 A statement sent periodically, usually once a month by a buyer to his suppliers, showing the position of their accounts up to a certain date.
Q27 Reconciling the bank column of the cash book and the bank statement balances is treated under
Q28 The process of making the balance on the bank column of a cash book to agree with the balance on the bank statement is
Q29 The differences between the balances of bank column of the cash book and bank statement could be as a result of the following except
Q30 Cheques which have been issued for payment by a bank account holder but have not been presented for payment at the bank as at the date the bank prepared the bank statement are called
Q31 Cheques deposited into the bank but have not been credited to the customer account by the bank as at the date of preparing the bank statement are called
Q32 One of the following is not a reason for dishonoured cheques:
Q33 One of the following is not an advantage of bank reconciliation statement
Q34 The principles upon which preparation of accounting records are based and which are generally accepted is
Q35 A subsidiary book which can conveniently cater for recording of special transaction like revaluation of asset is
Q36 An important functions of accounting which shows expenses, assets, financial position at a given period of time is
Q37 Any transaction that is recorded twice in an account through a debit and a credit entry in the same account is called
Q38 The money spent in an organization in order to generate income either now or in the future is
Q39 The cost of transporting goods meant for resale into the organization is
Q40 A set of numbers and codes that defines each account head and also differentiate between classes of account is
Q41 From the following information, determine the purchase day book. On October 1, the company received good worth N33,750 from Lagos Ventures. On October 13, Kaduna Warri Enterprises supplied 15 pieces of calculator at N8,330 each. 22 pairs of shoe at N6,520 per pair, 15 pieces of mobile handset at N80,950 each and another starter pack costing N1,500 were received from Victoria Island concepts limited on October 25.
Q42 The book used in recording goods previously sold to customers but were later returned by the buyer to the seller is
Q43 ______ is an inducement given to debtors for payment their debt promptly
Q44 Which of the following statement is incorrect?
Q45 Which of the following is not a method of preparing trial balance?
Q46 Which of the following statements is incorrect of trial balance:
Q47 Which of the following statements is incorrect?
Q48 The principal book of account where the double entry principle is completed is called
Q49 Which of the following statements is incorrect?
Q50 The only system which signifies a way of recording all accounting transactions twice in the book of account is
Q51 Which of the following statements is incorrect?
Q52 A kind of subsidiary book of account prepare to record cash transaction, bank transaction, discount received and discount allowed is called ________
Q53 Which of the following statements is incorrect?
Q54 The recording of cash transactions in the appropriate subsidiary book is any of the following except
Q55 A book of original entry use in recording all cash transaction is
Q56 One of the following is not an example of subsidiary book:
Q57 One of the books of original entry that is used to record any transaction which cannot be conveniently recorded or classified into any of the other subsidiary book is
Q58 All the following except one can lead to sales return
Q59 One of the following is a reason why return inward may be justified
Q60 The book used in recording goods previously sold to customers but were later returned by the buyer to the seller is
Q61 Every business organization is expected to keep one of the following accurately and in an orderly manner.
Q62 A subsidiary book of account used to record all goods bought and services received on credit from a third party in the order in which they occurred irrespective of the amount involved
Q63 A book of original entry used to record all goods sold and services rendered on credit to a third party in the order in which they occurred irrespective of the amount involved.
Q64 The document that shows the transfer of goods and/or provision of service between two or more parties for which payment is yet to be received is
Q65 Which of the following statements is not true about source document
Q66 One of the following is not an example of source document
Q67 The matching concept states that
Q68 The concept which sees the company as a legal, separate and distinct entity is
Q69 The principles upon which preparation of accounting records are based, which are universally acceptable is
Q70 The accounting information is useful to one of the following for free flow of business transaction
Q71 One of the reasons why the government needs accounting information of a company is to
Q72 The users of accounting information are the following except
Q73 Assets safeguarding act is helpful to the management in the following areas except
Q74 Upon the preparation of analysis to explain financial statement. These analysis will show all the following except
Q75 Which of the following is not a function of accounting as related to information system of an organization?
Q76 The two government recognized accounting professional bodies in Nigeria are:
Q77 Which of the following is the true or fair view of an organization�??s financial statements?
Q78 The acquisition of key business information that includes income, expenditure, profit, assets and liabilities are made available from which of the following as prepared by accountants.
Q79 How many professional accounting bodies do we have in Nigeria?
Q80 Which of the following is not a nature of accounting?
ENT308 List of Questions Latex formatted questions may not properly render Q1 Many expert believe_______ is a necessary condit...
Comment
N.B
This is is an online educational platform, where we provide free solutions to NOUN TMA questions.
Solutions gotten from this platform is not for sale, do not make payment to any body on this blog. use live chat to chat directly with the admin on this blog.
0 Comment to "ACC203 TMA solution"
Post a Comment