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?
Organizational structure | |
Performance reviews | |
Physical controls | |
Segregation of duties |
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 and accounts of a company | |
Notices and documents of the company | |
Books, accounts and vouchers of the 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 | |
Uncredited checks | |
Outstanding checks | |
Bounced 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.
Bounced checks | |
Unpresented checks | |
Uncredited 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 | |
Unpresented checks | |
Outstanding 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______________?
Bounced checks | |
Unpresented checks | |
Uncredited checks | |
Outstanding checks |
Standing orders are ________
Standing orders are ________
Debited in the cash book | |
Entered in the petty cash balance | |
Entered in the bank statement | |
Credited in the cash book |
In the Bank reconciliation statement “Deposit in transit” is usually:
In the Bank reconciliation statement “Deposit in transit” is usually:
Added to bank balance | |
Added to Cash book balance | |
Subtracted from cash book balance | |
Subtracted from bank balance |
Favorable balance of cash book implies that
Favorable balance of cash book implies that
Bank overdraft | |
Credit balance of cash book | |
Debit balance of cash book | |
Adjusted balance of cash book |
Favorable balance of bank statement implies that
Favorable balance of bank statement implies that
Bank overdraft | |
Credit balance | |
Debit balance | |
Adjusted balance |
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.
$500 will be debited | |
$1000 will be subtracted | |
Non-adjustable | |
$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 receipt journal | |
Cash payment journal | |
Financial statements | |
Cash book |
Bank reconciliation statement is prepared by____________?
Bank reconciliation statement is prepared by____________?
Accountant of the bank | |
Manager of the business | |
Accountant of the business | |
Controller of the bank |
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 added to cash book balance | |
Bank charges will be debited in cash book | |
Bank charges need no adjustment in cash book | |
Bank charges will be credited in cash book |
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.
$3,000 | |
$2,000 | |
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.
$4000 will be credited in the cash book | |
$2000 will be credited in cash book | |
$2000 will be debited in cash book | |
$4000 will be debited in 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.
$1000 will be added to cash book balance | |
$2000 will be deducted from cash book balance | |
$3000 will be added to 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 has been forged | |
Bank can’t verify your identity | |
Check can’t be cashed being illegal | |
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?
Expenses | |
Debit | |
Liability | |
Credit |
$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 | |
$10,000 will be credited | |
$5000 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 ?
9th November | |
11th September | |
21st March | |
11th October |