Principles of Accounting - ATT - CBE
A enterprise must account for a automobile employed for six months as what kind of rent? -
ANS-running
A capital provide ought to be known whilst the asset it is subsidising is purchased beneath
the accrual version - ANS-fake
A capital grant ought to first of all be recognized as deferred income underneath the accrual
model - ANS-authentic
a contingent asset ought to be recognised while an inflow of economic gain is likely -
ANS-false
a contingent liability isn't always disclosed if there is only a faraway hazard that it will result
in outflow of financial benefit - ANS-proper
a contingent liability is best ever disclosed, never recognized - ANS-false
A authorities supply related to revenue expenditure can be credited against the particular
fees to which it relates within the earnings and loss account - ANS-false
a central authority furnish related to the purchase of an asset need to be deducted from the
sporting quantity of the asset in the balance sheet - ANS-false
A authorities furnish related to the acquisition of an asset must be known within the profit
and loss account over the life of the asset - ANS-true
A prepayment is ... Inside the stability sheet - ANS-an asset
A prepayment will do what to the profit for the 12 months? - ANS-increases it
A provision is... - ANS-a legal responsibility
A provision have to be recognised whilst an outflow of economic blessings is possible -
ANS-true
Accounting equation? - ANS-Opening internet belongings + profit - drawings + ultimate
liabilities = ultimate net belongings
Accruals are a ... Access - ANS-credit score
Accrued earnings is ... Within the stability sheet - ANS-an asset
, All businesses have to hold accounting statistics which distinguish among owner's budget
and enterprise price range - ANS-real
An accrual is .... Inside the balance sheet - ANS-a legal responsibility
An boom in final inventory will do what to the gross income and net belongings of a
commercial enterprise? - ANS-growth it
An boom in borrowers is going on which facet of the borrowers T account? - ANS-Debit
an interest charge is received internet of primary price earnings tax - how is this recorded in
the earnings and loss account - ANS-gross
Are stocks an instance of an intangible asset? - ANS-No they're dealt with as investments
Arrears - ANS-payment after the occasion
Asset turnover equation? - ANS-Sales / (overall belongings - modern liabilities)
Assets bought with government grants ought to be depreciated as typical over the life of the
asset - ANS-actual
Balance added ahead at the credit facet in a creditor's T account is... - ANS-a legal
responsibility
Balance sheet is what consistent with FRS 102 - ANS-Statement of Financial Position
Bank interest obtained is ... And is a ... In the trial balance - ANS-profits and credit
financial institution overdraft is... - ANS-a legal responsibility
Bonus difficulty - no coins changing hands. So? - ANS-Decrease earnings and loss account
reserve by using the boom in the share capital account
Capital stability = - ANS-assets - liabilities + income
Cash payments and receipts - ANS-gross of VAT
Companies withhold basic price earnings tax when making which payments to individuals? -
ANS-Interest and royalties
Company has long past into liquidation and owes you money. Double entry? - ANS-Dr Bad
debts cost
Cr Debtors
Company has bought a gadget beneath a rent buy agreement. What is the double entry for
recording the preliminary agreement? - ANS-Dr Fixed asset price
Cr mortgage creditor account - rent buy
A enterprise must account for a automobile employed for six months as what kind of rent? -
ANS-running
A capital provide ought to be known whilst the asset it is subsidising is purchased beneath
the accrual version - ANS-fake
A capital grant ought to first of all be recognized as deferred income underneath the accrual
model - ANS-authentic
a contingent asset ought to be recognised while an inflow of economic gain is likely -
ANS-false
a contingent liability isn't always disclosed if there is only a faraway hazard that it will result
in outflow of financial benefit - ANS-proper
a contingent liability is best ever disclosed, never recognized - ANS-false
A authorities supply related to revenue expenditure can be credited against the particular
fees to which it relates within the earnings and loss account - ANS-false
a central authority furnish related to the purchase of an asset need to be deducted from the
sporting quantity of the asset in the balance sheet - ANS-false
A authorities furnish related to the acquisition of an asset must be known within the profit
and loss account over the life of the asset - ANS-true
A prepayment is ... Inside the stability sheet - ANS-an asset
A prepayment will do what to the profit for the 12 months? - ANS-increases it
A provision is... - ANS-a legal responsibility
A provision have to be recognised whilst an outflow of economic blessings is possible -
ANS-true
Accounting equation? - ANS-Opening internet belongings + profit - drawings + ultimate
liabilities = ultimate net belongings
Accruals are a ... Access - ANS-credit score
Accrued earnings is ... Within the stability sheet - ANS-an asset
, All businesses have to hold accounting statistics which distinguish among owner's budget
and enterprise price range - ANS-real
An accrual is .... Inside the balance sheet - ANS-a legal responsibility
An boom in final inventory will do what to the gross income and net belongings of a
commercial enterprise? - ANS-growth it
An boom in borrowers is going on which facet of the borrowers T account? - ANS-Debit
an interest charge is received internet of primary price earnings tax - how is this recorded in
the earnings and loss account - ANS-gross
Are stocks an instance of an intangible asset? - ANS-No they're dealt with as investments
Arrears - ANS-payment after the occasion
Asset turnover equation? - ANS-Sales / (overall belongings - modern liabilities)
Assets bought with government grants ought to be depreciated as typical over the life of the
asset - ANS-actual
Balance added ahead at the credit facet in a creditor's T account is... - ANS-a legal
responsibility
Balance sheet is what consistent with FRS 102 - ANS-Statement of Financial Position
Bank interest obtained is ... And is a ... In the trial balance - ANS-profits and credit
financial institution overdraft is... - ANS-a legal responsibility
Bonus difficulty - no coins changing hands. So? - ANS-Decrease earnings and loss account
reserve by using the boom in the share capital account
Capital stability = - ANS-assets - liabilities + income
Cash payments and receipts - ANS-gross of VAT
Companies withhold basic price earnings tax when making which payments to individuals? -
ANS-Interest and royalties
Company has long past into liquidation and owes you money. Double entry? - ANS-Dr Bad
debts cost
Cr Debtors
Company has bought a gadget beneath a rent buy agreement. What is the double entry for
recording the preliminary agreement? - ANS-Dr Fixed asset price
Cr mortgage creditor account - rent buy
