Accountant

A Sales revenue B Cash C Accounts payable D Equipment

A To reconcile the bank statement B To transfer temporary account balances to equity or an income summary account C To remove all assets from the ledger D To cancel all liabilities

A A purchase made from a supplier B A sale paid immediately in cash C A cash withdrawal by the owner D A sale where payment is received later

A A discount received from a bank B Goods returned by the buyer to the supplier C Goods returned by a customer to the seller D Cash received from a loan

A A tax penalty B A discount for early settlement recorded separately in every system C Interest charged on an overdue loan D A reduction from a listed price, often based on trade terms or quantity

A A tax deducted at source B A reduction in the listed price to wholesalers only C A depreciation allowance D A reduction offered for prompt payment

A A cash reserve held in a separate bank account in every case B A contra-asset estimate of expected credit losses on receivables C A supplier liability D A revenue account

A A possible asset arising from past events whose existence depends on uncertain future events B A depreciable building C A confirmed cash balance D A present obligation to pay a supplier

A To avoid preparing financial statements B To make all ledger balances equal to zero C To recognize revenues and expenses in the correct accounting period D To eliminate all liabilities

A A report containing only revenue B A list of journal entries by date C A statement showing only cash movements D A statement grouping assets and liabilities into categories such as current and non-current