In an accounting system, the document which supports journal entries is classified as _____________?

Related Mcqs:

1. The costing system, which omits some of the journal entries in accounting system is known as ____________?

   A. in-time costing B. trigger costing C. back flush costing D. lead time costing...

2. The stage in manufacturing cycle at which journal entries are made in system of accountancy is known as _________?

   A. chaining point B. recording point C. lead point D. trigger point...

3. The method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as __________?

   A. economic accounting B. back-flush accounting C. lean accounting D. lead accounting...

4. In accounting system, a document which consists of all assigned cost for specific job is classified as __________?

   A. job cost record B. job cost sheet C. source document D. both a and b...

5. An accounting which records and measures the business transactions and is followed by generally accepted accounting principles is classified as ____________?

   A. external accounting B. internal accounting C. business accounting D. financial accounting...

6. In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as _________?

   A. partial inventory costing method B. current period inventory method C. Last-in, first-out method D. First-in, first-out method...

7. An allocation approach, in which all the overhead entries are restated using actual cost rates in place of budgeted rates is called ___________?

   A. unadjusted budget rate approach B. adjusted allocation rate approach C. unadjusted allocation rate approach D. adjusted budget rate approach...

8. In financial accounting, the investors, banks, suppliers and government agencies are classified as _____________?

   A. external parties B. internal parties C. environmental parties D. transactional parties...

9. In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as ____________?

   A. under allocated indirect cost B. over allocated direct cost C. over allocated budget D. under allocated budget...

10. In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?

    A. over allocated budget B. under allocated budget C. under allocated indirect cost D. over allocated direct cost...