Financial AccountingExercise- The Accounting Cycle

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

2. The expenses which are NOT paid out of Gross Profit is classified as

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

4. Amount generated from sales in a business is called

5. From all of the given options which of the following voucher is used to record transactions that do not affect bank & cash?

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

7. 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

8. Which of the following particular/s is/are included in payment voucher?

9. In which of the following all vouchers are first recorded___________.

10. 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