Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	A statement which i prepared to ascertain the net income or net loss for a specific accounting period is called	Position statement Statement of condition Financial statement Bank reconciliation statement
2	The excess of credit column over debit column in income statement is called	Net loss Net profit Cash balance Gross profit
3	The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the	Balance sheet columns Income statement columns Cash columns Bank columns
4	Financial statement is prepared from the amount given in	Trail balance columns Adjustments columns Cash columns Adjusted trail balance columns
5	Which one of the following in used to simplify work, to be done at the end of period	Balance sheet Income sheet Bank statement Work sheet

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