Verification Of Accounting Records
Muhtasari
Book-keeping is done by people, and people miscopy digits, add a column wrongly, post to the account above the one they meant, and occasionally forget an invoice altogether. A set of books that nobody checks is not a record, it is a rumour. So accounting has built into itself four separate ways of testing whether what has been written down can be trusted, and this topic is all four of them.
You will prepare a trial balance and, more importantly, learn precisely what it does and does not prove: six kinds of error can sit inside a trial balance that agrees perfectly. You will build control accounts that check a whole ledger from outside it, prepare a bank reconciliation statement that explains why the bank and the business disagree without either being wrong, correct errors through the general journal and a suspense account, and finish by working out what the corrections do to a profit figure that has already been calculated.
Malengo
- Verification of the double entry records.
- Prepare and understand the use of a trial balance.
- Prepare, understand and interpret trade payables and trade receivables ledger control accounts.
- Prepare and understand the use and purpose of bank reconciliation statements.
- How to correct errors in double entry records.
- The effect of errors on profit calculations.
Ramani ya mawazo
Mada hii imechorwa ili uone jinsi mawazo yanavyounganika.
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Maelezo ya Somo
Dokezo Kamili la Somo Linapatikana kwenye Programu ya Green Bridge
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Tathmini ya Somo
Hongera kwa kukamilisha somo la Verification Of Accounting Records. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.
Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.
Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.
- Which error would be revealed by preparing a trial balance? A. A compensating error B. An error of commission C. An error of principle D. An unequal posting Answer: D
- A payment of rent is debited to the insurance account. What type of error is this? A. Commission B. Complete reversal C. Omission D. Original entry Answer: A
- Where is a contra entry recorded in the trade receivables ledger control account? A. Credit side, reducing the balance B. Credit side, increasing the balance C. Debit side, reducing the balance D. Debit side, increasing the balance Answer: A
- Which item is entered in the cash book when a bank reconciliation is prepared? A. A bank charge B. A bank error C. An outstanding banking D. An unpresented cheque Answer: A
- A trial balance shows total debits of $84 300 and total credits of $84 750. What is the balance on the suspense account? A. $450 credit B. $450 debit C. $900 credit D. $900 debit Answer: B
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Fanyia kazi maswali haya kwenye programu
Vitabu Vinavyopendekezwa
Fanya Mazoezi ya Maswali ya Majaribio
Ungependa kufanya mazoezi ya maswali ya majaribio kuhusu Verification Of Accounting Records? Pakua programu ya Green Bridge CBT ili kupata maswali ya majaribio na tathmini kamili za mazoezi kuhusu mada hii.
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