What is a secondary book of accounts, the information of which is obtained from the journal is called ?

Related Mcqs:

1. What is a measure of the average speed with which accounts receivable are collected ?

   A. Current ratio
   B. Quick ratio
   C. Acid test ratio
   D. Receivable turnover

2. The normal values of over flow rates for secondary sedimentation tanks, ranges between__________________?

   A. 25,000 to 35,000 litres/sqm/day
   B. 40,000 to 50,000 litres/sqm/day
   C. 50,000 to 60,000 litres/sqm/day
   D. 80,000 to 10,000 litres/sqm/day

3. If is the rugosity coefficient, is the bed slope of sewer, the velocity of flow in m/sec may be obtained by the formula V = (1/n) r2/3 s1/2 evolved by_________________?

   A. Chezy
   B. Manning
   C. Bazin
   D. Kutter

4. A machine costs of P 8,000 and an estimated life of 10 years with a salvage value of P 500. What is its book value after 8 years using straight line method ?

   A. P 2,000.00
   B. P 2,100.00
   C. P 2,200.00
   D. P 2,300.00

5. In what method of computing depreciation where it assumes that the annual cost of depreciation is a fixed percentage of the book value at the beginning of the year ?

   A. Straight line method
   B. Sinking fund method
   C. Sum-of-year digit method
   D. Declining balance method

6. An association of two or more persons for the purpose of engaging into a business for profit is called ____________________?

   A. Entrepreneurship
   B. Partnership
   C. Proprietorship
   D. Corporation

7. Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ________________________?

   A. Partnership
   B. Investors
   C. Corporation
   D. Stockholders

8. Cash money and credit necessary to establish and operate an enterprise are generally called _____________________?

   A. Capital
   B. Funds
   C. Assets
   D. Liabilities

9. All the proceeds which are received by the business as a result of the sale of goods is called _________________?

   A. Net income
   B. Gross income
   C. Net revenue
   D. Total sales

10. What is the increase in the money value of a capital asset is called?

    A. Profit
    B. Capital gain
    C. Capital expenditure
    D. Capital stock