Financial AccountingExercise- The Accounting Cycle

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

2. 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

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

4. Which of the following is a FIRST product of accounting cycle?

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

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 account balance is shown on credit side of Trial Balance? (It is assumed that all account balances are shown on normal balance)

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

9. In an account if debit side > credit side, the balance is known as the

10. 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