| 1 |
Usually every ______ entry affect both income statement and balance sheet |
- A. Adjusting
- B. Work sheet
- C. Balance sheet
- D. Ledger
|
| 2 |
Worksheet provides complete information for preparing |
- A. Income statement
- B. Position statement
- C. Financial statement
- D. Bank reconciliation statement
|
| 3 |
Adjusted ______ is used to prepare the income statement and balance sheet |
- A. Trail balance
- B. Ledger
- C. Balance sheet
- D. Bank statement
|
| 4 |
Financial statement is prepared from the amount given in |
- A. Trail balance columns
- B. Adjustments columns
- C. Cash columns
- D. Adjusted trail balance columns
|
| 5 |
In the preparation of worksheet the amounts in the trail balance are taken directly form the ______ |
- A. Ledger
- B. Trail balance
- C. Balance sheet
- D. None of these
|
| 6 |
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
|
| 7 |
The body of worksheet contains |
- A. Two pairs of money column
- B. Three pairs of money column
- C. Four pairs of money column
- D. Five pairs of money column
|
| 8 |
Adjusting entries affect |
- A. Balance sheet
- B. Income statement
- C. Work sheet
- D. All of them
|
| 9 |
One way of avoiding errors in the permanent accounting records is to use a form which is called |
- A. Bank statement
- B. Trail balance
- C. Balance sheet
- D. Work sheet
|
| 10 |
Which one of the following is not considered the permanent part of the accounting record? |
- A. Journal
- B. Trail balance
- C. Ledger
- D. Work sheet
|
