Accountning Quiz
Accountning Quiz
Accountning Quiz
Word Clue
1. General guidelines.
The __________ unit assumption means transactions of U.S. companies are reported
2. in dollars.
3. Adjusting entries help to achieve the ____________ principle.
4. The cost principle is often described as the __________ cost principle.
__________ practices allows the format of a public utility's balance sheet to be
5. different from that of a manufacturer.
The concept of _________________ allows for the violation of an accounting principle
6. when the amounts are insignificant.
The __________ entity assumption results in business transactions being kept
7. separate from a sole proprietor's personal transactions.
8. In cases of uncertainty, less profit is reported under this concept.
9. Full __________ is achieved through the notes to the financial statements.
10 This assumption justifies quarterly financial statements.
11 Defined as the cash or cash equivalent amount at the time of a transaction.
12 Accrual accounting is related to this principle.
13 Results in the reporting of contingent losses, but not contingent gains.
14 Permits the immediate expensing of insignificant assets.
15 FASB is the acronym for _____________ Accounting Standards Board.
The __________ concern assumption is that an enterprise will continue on long
16 enough to carry out its objectives and commitments.
Communicating the significant accounting policies in the first note to the financial
17 statements is related to the full ______________ principle.
The U.S. government agency with authority over the reporting requirements of
corporations whose stock is publicly traded in the U.S. is the Securities and
18 ______________ Commission.
Under the __________-basis of accounting, revenues are reported on the income
19 statement in the period in which they are earned.
Part of the _______________ unit assumption is that the U.S. dollar retains its
20 purchasing power over time.
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TORENYAM
NTAGHMIC
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NAGMITCH
VESTMIRNASOC
TRIALITAEMY
AFAILNCIN
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SECLUDORIS
HXGAENEC
CUCLARA
ATORMNYE
Dr Raman Sharma
Ravindra Sehgal
Yogesh Yogi
Regina Zita Naik
6
6
3
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ARJAN MIRCHANDANI
Jayant Gehlot
Ravi Sehgal
Janeshwar Kumar Sinha
Yogesh Yogi
Hamendra Agarwal
Arjan Mirchandani
Jayant Gehlot
Yogesh Yogi
Revinder Verma
3
18
9
4
KapilGupta
KunalSeth
SandipSanyal
SantoshHiremath
VermaniRajesh
Himanshu Srivastava
MANMOHAN NEMA
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Alok Mittal
Ashok Tiwari
Basant Pathak
Yogesh Yogi
britanic bold
cosmic sans
Guest but the best - Id ka Chand
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6
2
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Alok Mittal
Hema Rawat
Holenarasipura Nagendra
Narendra Zanvar
Yashika Anand
3
13
2
4
10
6
8
7
10
4
ManmohanNema
JavedIqbal
KaiserMerchant
ManeeshVerma
PravitishTiwari
Surendrasingh Rajpurohit
4
7
3
4
9
3
Alok Mittal
Himanshu Srivastava
Nitin Ruhela
SAm Chakti
Vermani Rajesh
5
12
11
2
3
Arjan Mirchandani
Hamendra Agarwal
Jay Malavia
Ravi Sehgal
Regina Zita Naik
BhavanaMakhija
Bhavana Thakkar
Supriya Roy
Yashika Anand
2
12
11
4
6
Dr Raman Sharma
Nitin Ruhela
Pradeep Shah
Shreedhar Ramesh Das
Singh Harpreet
3
6
18
5
13
4
5
8
2
4
19
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1
3
LEASE ACCOUNT
Date
Particulars
Amount
Date
50000.00
31-Dec-05
2500.00
31-Dec-05
52500.00
1-Jan-06 To Balance b/d
38399.40
31-Dec-06
1919.97
31-Dec-06
40319.37
1-Jan-07 To Balance b/d
26218.77
31-Dec-07
1310.94
31-Dec-07
27529.71
1-Jan-08 To Balance b/d
13429.11
671.49
31-Dec-08
14100.60
INTEREST ACCOUNT
Date
Particulars
Amount
2500.00
Date
31-Dec-05
2500.00
31-Dec-06 To Interest A/c
1919.97
31-Dec-06
1919.97
31-Dec-07 To Interest A/c
1310.94
31-Dec-07
1310.94
31-Dec-08 To Interest A/c
671.49
31-Dec-08
671.49
MACHINERY ACCOUNT
Date
Particulars
Amount
80000.00
( Machine 1)
Date
31-Dec-01
31-Dec-01
80000.00
1-Jan-02 To Balance b/d
72000.00
31-Dec-02
31-Dec-02
31-Dec-02
72000.00
1-Jan-03 To Balance b/d
1-Jul-03 To Bank A/c
64800.00
30-Jun-03
48000.00
( Machine 2)
30-Jun-03
30-Jun-03
31-Dec-03
31-Dec-03
112800.00
1-Jan-05 To Balance b/d
45600.00
31-Dec-05
45600.00
31-Dec-05
NT
Particulars
Amount
By Depreciation A/c
14100.60
By Balance c/d
38399.40
52500.00
By Depreciation A/c
14100.60
By Balance c/d
26218.77
40319.37
By Depreciation A/c
14100.60
By Balance c/d
13429.11
27529.71
By Depreciation A/c
14100.60
14100.60
OUNT
Particulars
By Lease A/c
Amount
2500.00
2500.00
By Lease A/c
1919.97
1919.97
By Lease A/c
1310.94
1310.94
By Lease A/c
671.49
671.49
OUNT
Particulars
By Depreciation A/c
By Balance c/d
Amount
8000.00
72000.00
80000.00
By Depreciation A/c
By Balance c/d
7200.00
64800.00
72000.00
By Depreciation A/c
3240.00
( Machine 1)
By Bank A/c
48000.00
By P&L A/c
13560.00
By Depreciation A/c
By Balance c/d
2400.00
45600.00
112800.00
By Depreciation A/c
4560.00
41040.00
45600.00
80000
8000
7200
3240
61560
13560
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