← SetsAccountancy — Set 1
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Accountancy Practice Questions — Set 1
10 free Accountancy reviewer questions with answers and explanations. Pindutin ang sagot mo para makita agad kung tama — kasama na ang paliwanag. Set 1 of 2.
1
What is the basic accounting equation?
2
Which financial statement shows the financial position of a business at a specific date?
3
What does the 'matching principle' in accounting require?
4
Which of the following is considered a current asset?
5
What is the normal balance of an 'Expense' account?
6
What is the book of original entry where transactions are first recorded?
7
What is 'Depreciation'?
8
Which accounting principle states that a business is separate from its owners?
9
What is a 'Trial Balance' used for?
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