Financial AccountingExercise- The Accounting Cycle

1. What is the next step to Journalizing in Accounting cycle?

2. Which of the following is Not a part of General Ledger?

3. A supplier sends you a statement showing a balance outstanding of $14,350. Your own records show a
balance outstanding of $14,500.
Which one of the following could be the reason for this difference

4. Which of the following particular is NOT included in journal voucher?

5. Which of the following item is found in a Journal entry? (1) Date of each transaction (2) Rupee amount of each debit and credit (3) Explanation of each transaction

6. Which of the following voucher is used to record receipt of cash?

7. Amount generated from sales in a business is called

8. A book that keeps separate record for each account is known as

9. Which of the following is NOT a characteristic of Journal?

10. All the statements are correct about Journal voucher EXCEPT