The basic sequence in the accounting process can best be described as:

  1. Home
  2. Back

Question:
The basic sequence in the accounting process can best be described as:

1.Transaction, journal entry, source document, ledger account, trial balance.

2.Source document, transaction, ledger account, journal entry, trial balance.

3.Transaction, source document, journal entry, trial balance, ledger account.

4.Transaction, source document, journal entry, ledger account, trial balance.

Posted Date:-2021-10-26 07:36:59

More MCQS Questions and answers

  1. The amount of salary paid to Suresh should be debited to
  2. A book containing a chronological record of business transaction & original record
  3. A company's telephone bill consisting of a Rs.200 monthly base amount, plus long distance charges, would be classified as a:
  4. According to schedule VI Companies Act which item is not shown on Asset side of Balance sheet
  5. Accounting does not record non-financial transactions because of:
  6. Accounting does not record non-financial transactions because of:
  7. Accounting is the process of matching
  8. Accounting principles are generally based upon:
  9. Advantages of cost accounting accrue:
  10. Amount brought in by proprietor should be credited to
  11. Balance Sheet is a statement of
  12. Carriage outward is charged to
  13. Cash discount allowed to a debtor should be credited to
  14. Cost of asset should always be equal to the cost of the liabilities. This concept is
  15. Creating Provision against fluctuation in the price of investment is an example of which accounting convention
  16. Custom and traditions which guide the accountant while preparing the accounting statements
  17. Debit the receiver credit the giver rule for
  18. Financial information should be neutral and bias free" is the dictation of which one of the following?
  19. If closing stock appears in the trial balance, it should be
  20. Interest , rent, electricity bill are types of account
  21. Management Accounting provides invaluable services to management in performing
  22. Managerial accounting information is generally prepared for
  23. Marginal costing is concerned with:
  24. Of the following account types, which would be increased by a debit?
  25. Outstanding salary is shown as:
  26. P& l a/c is prepared for a period of one year by following:
  27. Payment received from Debtor
  28. Prepaid expense is treated as
  29. Proprietor (owner) is treated as creditor of business due to:
  30. Return of goods by a customer should be debited to
  31. Salary paid to factory manager is an item of:
  32. The basic sequence in the accounting process can best be described as:
  33. The books to be compulsorily maintained by a company are:
  34. The cash discount allowed to a debtor should be credited to
  35. The concept of separate entity is applicable to which of following types of businesses?
  36. The concept of separate entity is applicable to which of following types of businesses?
  37. The convention of disclosure implies that all material information should be
  38. The primary objective of cost accounting is
  39. The prime function of accounting is to
  40. True & fair profit and loss a/c of a company know by
  41. Which of the following best describes a trial balance?
  42. Which of the following equation is related with Dual Aspect Concept ?
  43. Which of the following errors will be disclosed in the preparation of a trial balance?
  44. Which of the following is a liability?
  45. Which of the following is a real (permanent) account?
  46. Which of the following is correct
  47. Which of the following statements about differences between financial and managerial accounting is incorrect?
  48. Which of the following statements is not an objective of financial reporting?
  49. Which of these items would be accounted for as an expense?
  50. Which one of the following items would fall under the definition of a liability
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!