BA3 Practice Questions
Fundamentals of financial accounting
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Total Questions : 393
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Refer to the exhibit.
A company has the following equity balances at the beginning of the year
During the year the company made a bonus issue of 1 for 4 shares
What are the equity balances after this issue?
Which of the following would be a good method of segregating the duties of staff?
CDE, an entity registered for sales tax, purchases a piece of equipment for cash on 31 December 20X6 for $30,000 including sales tax. The sales tax rate is 20%. What is the journal entry required to record this transaction in the nominal ledger?
Place the labels in the corresponding position in the table below:
Accounting codes have proven to be very useful when recording business transactions.
Which THREE of the following does a coding system help to do?
The trial balance shows the debit total as $200 less than the credit total.
This could be due to:
The record of how the profit or loss of a company has been allocated to distributions and reserves is found in the:
Andrew is valuing the closing inventory at the lower of cost and net realizable value.
Which of the following concepts dictates his choice?
Which of the following is an example of where the materiality convention should be applied?
