If the asset turnover and profit margin of a company are 1.85 and 0.35 respectively, the return on investment is.

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Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?

A. Cash payments journal B. Cash receipts journal C. Purchases return journal D. General journal...

Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?

A. Identifying transactions B. Preparing “T Accounts” C. Preparing financial statements D. Preparing trial balances...

Net income equal to Revenues minus____________?

A. Gains B. Depreciation C. Expenses D. Capital expenditures...

Which of the following is true regarding closing entries?

A. They must be followed by reversing entries B. They transfer the balances in all of the Nominal Accounts to the Trading and Profit and Loss Account C. They must be made after the reversing entries but before the adjusting entries D. They must be made after the adjusting entries but before the reversing entries...

Which of these transactions will not be recorded in cash book?

A. Cash received from debtors B. Cash paid to creditors C. Salary remained outstanding D. Cash deposited with bank...