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

Related Mcqs:

BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?

A. Cash receipts journal B. Cash payments journal C. Sales journal D. Purchase journal...

The first step in accounting process is___________?

A. Recording the transaction B. Identifying the transaction C. Posting the transaction D. Preparing the source documents...

Which of the following are current assets of a business?

i. Income received in advance ii. Stock iii. Debtors iv. Pre-paid expenses v. Accrued income A. Both (i) and (iv) above B. Both (ii) and (iii) above C. (i),(ii) and (iii) above D. (ii),(iii),(iv) and (v) above...

A foreign bill of exchange is generally drawn up in___________?

A. Triplicate B. Duplicate C. Single D. Quadruplicate...

Which of the following bases is not appropriate for apportionment of Transport department‘s cost ?

A. Crane hours B. Crane value C. Truck Mileage D. Truck value...