According to ISA 315, which of the following is NOT a control activity?
According to ISA 315, which of the following is NOT a control activity?
Physical controls | |
Segregation of duties | |
Organizational structure | |
Performance reviews |
پاک اسٹڈی لائبریری اپنی خدمات کو بہتر کرنے کے لئے نئے سوفٹ وئیر انسٹال کررہی ہے ۔ اس لئے آئندہ کچھ دن آپ کو کچھ صفحات تک رسائی میں مشکلات کا سامنا ہوسکتا ہے ۔ جس کے لئے ہم معذرت خواہ ہیں۔
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A statutory auditor has a right of access at all times to___________?
A statutory auditor has a right of access at all times to___________?
Books, accounts and documents of the company | |
Books, accounts and vouchers of the company | |
Notices and documents of the company | |
Books and accounts of a company |
___________ are checks that are issued by the business but not yet presented to bank
___________ are checks that are issued by the business but not yet presented to bank
Uncollected checks | |
Outstanding checks | |
Bounced checks | |
Uncredited checks |
_________ Checks that are presented to bank but not yet credited by the bank.
_________ Checks that are presented to bank but not yet credited by the bank.
Uncredited checks | |
Unpresented checks | |
Bounced checks | |
Outstanding checks |
Which of the following error results in unadjusted cash book balance?
Which of the following error results in unadjusted cash book balance?
Omission of Bank charges | |
Deposit in transit | |
Outstanding checks | |
Unpresented checks |
Unpresented checks also referred as____________?
Unpresented checks also referred as____________?
Bounced checks | |
Outstanding checks | |
Uncredited checks | |
Uncollected checks |
Uncollected checks also referred as______________?
Uncollected checks also referred as______________?
Unpresented checks | |
Uncredited checks | |
Bounced checks | |
Outstanding checks |
Standing orders are ________
Standing orders are ________
Credited in the cash book | |
Entered in the bank statement | |
Entered in the petty cash balance | |
Debited in the cash book |
In the Bank reconciliation statement “Deposit in transit” is usually:
In the Bank reconciliation statement “Deposit in transit” is usually:
Subtracted from cash book balance | |
Added to bank balance | |
Subtracted from bank balance | |
Added to Cash book balance |
Favorable balance of cash book implies that
Favorable balance of cash book implies that
Adjusted balance of cash book | |
Debit balance of cash book | |
Credit balance of cash book | |
Bank overdraft |
Favorable balance of bank statement implies that
Favorable balance of bank statement implies that
Adjusted balance | |
Debit balance | |
Credit balance | |
Bank overdraft |
Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.
Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.
Non-adjustable | |
$1000 will be subtracted | |
$500 will be debited | |
$500 will be credited |
Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
Cash book | |
Financial statements | |
Cash payment journal | |
Cash receipt journal |
Bank reconciliation statement is prepared by____________?
Bank reconciliation statement is prepared by____________?
Controller of the bank | |
Accountant of the bank | |
Manager of the business | |
Accountant of the business |
Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?
Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?
Bank charges will be credited in cash book | |
Bank charges need no adjustment in cash book | |
Bank charges will be debited in cash book | |
Bank charges will be added to cash book balance |
Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500.
$2,000 | |
$3,000 | |
Zero | |
$2,500 |
A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book.
$2000 will be debited in cash book | |
$2000 will be credited in cash book | |
$4000 will be debited in cash book | |
$4000 will be credited in the cash book |
A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book
A company was entered in hire purchase agreement and had to pay $1000 per month.
$3000 will be added to cash book balance | |
$1000 will be added to cash book balance | |
$2000 will be deducted from cash book balance | |
$3000 will be subtracted from cash book balance |
A check returned by bank marked “NSF” means that:
A check returned by bank marked “NSF” means that:
Check can’t be cashed being illegal | |
Bank can’t verify your identity | |
Check has been forged | |
There are not sufficient funds in your account |
A cash deposit made by business appears on the bank statement as _______ balance?
A cash deposit made by business appears on the bank statement as _______ balance?
Debit | |
Liability | |
Credit | |
Expenses |
$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
$5000 will be debited | |
$10,000 will be debited | |
$5000 will be credited | |
$10,000 will be credited |
On which date is Death Anniversary of Quaid e Azam observed ?
On which date is Death Anniversary of Quaid e Azam observed ?
11th October | |
11th September | |
21st March | |
9th November |