Accountant

A Revenue earned but not received B An expense incurred but not yet paid C An asset held for resale D Cash paid for a future period

A Cash received before earning revenue B Revenue earned but not yet received or recorded C A reduction in sales D An expense incurred but unpaid

A Matching principle B Separate entity concept C Money measurement concept D Consistency principle

A Realization concept B Dual aspect concept C Historical cost concept D Going concern assumption

A Money measurement concept B Consistency principle C Business entity concept D Matching principle

A Record all gains before they are realized B Exercise caution and avoid overstating assets or income C Always overstate profit D Ignore possible losses

A To value inventory only B To prepare payroll C To explain differences between the cash book and bank statement D To calculate depreciation

A Approved by the auditor B Entered in the sales ledger C Recorded D Withdrawn by the customer

A A cheque issued to a supplier and paid B A cheque that has cleared C A cheque the bank refuses to pay D A cheque used to buy inventory on credit

A The fixed authorized amount B The amount of bank overdraft C Zero at every month-end D The amount of sales revenue