examstrack logo
Refer to the Exhibit.
A company has the following transactions for an accounting period:
Closing inventory at the end of the period was $3,200 and gross profit was $16,400.
The opening inventory was therefore
In relation to accounting coding systems in the computerized records of an entity, which of the following is true?
A sole trader made a net profit of $8000 for the year.
During the year, inventory increased by $500, receivables decreased by $800 and payables increased by $2400.
This would result in:
A contra entry is best described as:
In a manufacturing company, prime costs is the total of
GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:
How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?
Principles based accounting uses a conceptual basis to provide guidelines for preparing financial statements.
Which ONE of the following is an example of this approach?
“To assure shareholders that the stewardship of the organization was effectively carried out.”
What does this definition describe?
Which of the following is the best definition of the objective of accounting?
Refer to the exhibit.
In a statement of cash flows, which three of the following would be found under the section "cash flows from investing activities"?
|
PDF + Testing Engine
|
|---|
|
$87.15 |
|
Testing Engine
|
|---|
|
$78.75 |
|
PDF (Q&A)
|
|---|
|
$69.65 |
CIMA Free Exams |
|---|
|
Copyright © 2025 Examstrack. All Rights Reserved
TESTED 19 Jul 2025
