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Accounts - Principles of Accounts Past Questions

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891
The distinguishing feature between a two-column cash book is
  • A. discount column
  • B. cash column
  • C. bank column
  • D. ledger folio
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892
The lodgement of business cash into the business bank account is an example of
  • A. contra entry
  • B. bank reconciliation
  • C. self-balancing ledger
  • D. reversal entry
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893
Which of the following is not a characteristic of trial balance?
  • A. it has columns for debit and credit balances
  • B. total of debit balance equals total of credit balance
  • C. it is a statement
  • D. it is an account
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894
The capital of a sole trader changes as a result of
  • A. paying wages by cash
  • B. equipment purchased by cheque
  • C. drawing by cheque
  • D. purchase on credit
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895
A credit balance is
  • A. a liability or an expense
  • B. an expenditure or an income
  • C. an asset or an expense
  • D. an income
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