1. Sales forecasting is related to
- production
- demand
- policy
- manpower
2. A statement prepared to explain the difference between the balance appearing on the bank statement and the balance appearing in the enterprise’s record is called
- bank statement
- cash reconciliation statement
- bank certificate
- bank reconciliation statement
3. Which of the following would not cause a difference between the bank balance and book balance?
- bank errors
- deposits in transits
- credit sales not yet received
- interest
4. If the two sides of trial do not agree then there may be an
- arithmetic error
- mistake error
- compensating error
- sample error
5. Which of the following is not a part of financial statement
- trial balance
- income statement
- balance sheet
- cash flow statement
6. Which of the following is made for a particular date i.e. as on date,
- trial balance
- income statement
- balance sheet
- cash flow statement
7. The statement of the revenue earned by the company minus the expenditure and apportioned resources is called
- trial balance
- income statement
- balance sheet
- cash flow statement
8. Statement which sets out the assets and liabilities of a firm or an institution as at a certain date is called
- trial balance
- income statement
- balance sheet
- cash flow statement
9. The principle reason for reconciling the cash balance per books with the balance shown on the bank statement is to
- Determine the amount of cash is the account actually available to the entity
- satisfy generally accepted accounting principles
- verify the amount of petty cash on hand
- determine whether or not the entity has issued Non sufficient fund check
10. Of the following account types, which would be increased by a debit?
- Liabilities and expenses
- Assets and equity
- Assets and expenses
- Equity and revenues