| 1 |
______ is prepared to avoid errors in the permanent records of accounting |
- A. Work sheet
- B. Ledger
- C. Bank statement
- D. Balance sheet
|
| 2 |
Financial statement is prepared from the amount given in |
- A. Trail balance columns
- B. Adjustments columns
- C. Cash columns
- D. Adjusted trail balance columns
|
| 3 |
In the preparation of the worksheet the amounts on the trail balance columns are taken directly from |
- A. Journal
- B. Ledger
- C. Trail balance
- D. Transaction
|
| 4 |
Worksheet provides complete information for preparing |
- A. Income statement
- B. Position statement
- C. Financial statement
- D. Bank reconciliation statement
|
| 5 |
The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the |
- A. Balance sheet columns
- B. Income statement columns
- C. Cash columns
- D. Bank columns
|
| 6 |
Which one of the following in used to simplify work, to be done at the end of period |
- A. Balance sheet
- B. Income sheet
- C. Bank statement
- D. Work sheet
|
| 7 |
Adjusted ______ is used to prepare the income statement and balance sheet |
- A. Trail balance
- B. Ledger
- C. Balance sheet
- D. Bank statement
|
| 8 |
A ______ is a large columnar sheet of paper |
- A. Worksheet
- B. Balance sheet
- C. Journal
- D. None of these
|
| 9 |
Adjusting entries affect |
- A. Balance sheet
- B. Income statement
- C. Work sheet
- D. All of them
|
| 10 |
A sheet which minimizes the chances of errors to the maximum possible extent is called |
- A. Balance sheet
- B. Work sheet
- C. Paper sheet
- D. Income statement
|
