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Find Related Questions by Tags, levels, etc.
Which of the following is the sequence of the accounting processes?
A. Identifying, recording, summarising and communicating financial information
B. Identifying, summarising, recording and communicating financial information
C. Communicating, identifying, summarising and recording financial information
D. Communicating, recording and identifying financial information
E. Summarising, identifying, recording and communicating financial information
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The following explains the imprest system of operating petty cash, EXCEPT:
A. Weekly expenditure cannot exceed a set amount
B. The exact amount of expenditure is reimbursed at intervals to maintain a fixed float
C. The petty cashier collects revenue on behalf of the organization
D. A petty cashier receives cash, makes expenses of relatively small amounts, and maintains records for the transactions
E. Regular equal amounts of cash are transferred into petty cash at regular intervals
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An Accounts officer extracted a trial balance for the year ended October 31, 2019, and discovered that the debit side exceeded the credit side by N30,000. Which of the following could explain the reason for the imbalance?
A. Sales of N30,000 was omitted from the sales journal
B. Returns inwards of N15,000 was posted to the debit side of the trial balance
C. Discounts received of N15,000 were posted to the credit side of the trial balance
D. The bank ledger account did not agree with the bank statement by a debit of N30,000
E. N30,000 spent on repairs of office equipment was debited to office equipment account
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Which of the following is the sequence of the accounting processes?
A. Identifying, recording, summarising and communicating financial information
B. Identifying, summarising, recording and communicating financial information
C. Communicating, identifying, summarising and recording financial information
D. Communicating, recording and identifying financial information
E. Summarising, identifying, recording and communicating financial information
Find Related Questions by Tags, levels, etc.
The following explains the imprest system of operating petty cash, EXCEPT:
A. Weekly expenditure cannot exceed a set amount
B. The exact amount of expenditure is reimbursed at intervals to maintain a fixed float
C. The petty cashier collects revenue on behalf of the organization
D. A petty cashier receives cash, makes expenses of relatively small amounts, and maintains records for the transactions
E. Regular equal amounts of cash are transferred into petty cash at regular intervals
Find Related Questions by Tags, levels, etc.
An Accounts officer extracted a trial balance for the year ended October 31, 2019, and discovered that the debit side exceeded the credit side by N30,000. Which of the following could explain the reason for the imbalance?
A. Sales of N30,000 was omitted from the sales journal
B. Returns inwards of N15,000 was posted to the debit side of the trial balance
C. Discounts received of N15,000 were posted to the credit side of the trial balance
D. The bank ledger account did not agree with the bank statement by a debit of N30,000
E. N30,000 spent on repairs of office equipment was debited to office equipment account
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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