-11. Which one of the following minus cost of goods sold account?
A. Sales discount C. Purchase discount and return & allowance
B. Purchase D. A and c E. B and C
-------12. All are deducted from balance per depositor expect one?
A. Note receivable (N/R) C. Nonsufficient fund(NSF)
B. Bank service charge Depositor error is over state
E. None of them
----13. Which of the following is a characteristic of cash?
A.Cash is used as medium of exchange
B.Cash is the most liquid asset
C.Cash is mostly exposed by business transaction
D. Cash is the most affected by business transaction
E.B and C answers
-----14. Which one are the most common elements of cash control and management.
A.Bank account system
B.Voucher system
C.Change fund & cash short and over
D.All
------15. ------- is special form, which contains relevant data about liability and is payment
A.Vouchers C. Petty cash
B.Change fund D. Cash short and over
E. None
------16. Which is expressed a petty cash fund?
A.Small amount fund C. Petty cash is replenished
B.Petty cash is cash on hand D. All E. ‘’A’’ and ‘’C’’ answers
------17. Which is debited signified?
A.Purchase return C. Income summary
B. B. Purchase discount D. Sales discount
------18. --------- The amount that is due at the maturity or due date.
A.Maturity value C. Uncollectable account expense(AUE)
B.Due date D . None
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Answered by
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Answer:
12. D
13.E
14.D
15.A
16.A
17.C
18.D
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