POA

CSEC Preparation Test- This is a timed test for students preparing to write the CSEC Examinations 2020 in Principles of Accounting.

published on June 25, 20201 response 0
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1/5

Which of the following groups of persons may be LEAST interested in using accounting information to determine how well businesses are managed?

(A) Owners
(B) Investors
(C) Employees
(D) Customers
2/5

Which of the following states the correct order of the stages in the accounting cycle,
before Final Accounts?

(A) Posting to ledger,journalizing,trial balance
(B) Posting to ledger, trial balance, journalizing
(C) Journalizing, trial balance, posting to ledger
(D) Journalizing, posting to ledger, trial balance
3/5

4. Which of the following terms is described in documents showing exchanges of goods and services?

(A) Journal
(B) Transaction
(C) Balance Sheet
(D) Trial Balance
4/5

A balance sheet serves the purpose of

(A) showing the values of assets, liabilities and capital
(B) calculating the profits and losses made
(C) showing the value of the closing stock in hand
(D) determining the available cash balance
5/5

Which of the following are examples of Current Liabilities?
I. Mortgages
II. Accounts Payable
III. Accrued Wages

(A) I and II only
(B) I and III only
(C) II and III only
(D) I, II and III