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Financial Accounting Quiz (Financial, Account, Record)

Which of the following journal entry will be recorded, if the goods are sold on credit to Mr. 'B'?

Which of the following is NOT an item of a Balance Sheet?

Accounts Receivable & Inventory are the examples of:

Which of the following shows summary of a company's financial position at a specific date?

Which of the following summarizes the cash movements during a specified period?

Which of the following financial statement summarizes the profitability of an organization for a particular period?

In an account, if credit side < debit side then the balance is known as:

Which of the following is used to record financial transactions in chronological (day-to- day) order?

When a Liability is reduced or decreased, it is recorded on the:

What is the nature of an expense account?

Tagged as: financial
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