A distributed ledger technology providing a secure and immutable record of transactions is: MCQ with Answer and Explanation
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Question #1
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Which of the following statements regarding a Bank Reconciliation Statement (BRS) is TRUE?
Correct Answer: Option B
Explanation:
A BRS is prepared by the account holder (customer) on a specific date to explain differences between the cash book and pass book. It is a statement, not an account, so it does not involve journal entries.
A BRS is prepared by the account holder (customer) on a specific date to explain differences between the cash book and pass book. It is a statement, not an account, so it does not involve journal entries.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Tax Return Preparer' (TRP) scheme was launched to:
Correct Answer: Option C
Explanation:
TRP scheme helps individuals who cannot afford professional help.
TRP scheme helps individuals who cannot afford professional help.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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A 'Flexible Budget' is most useful because it:
Correct Answer: Option A
Explanation:
Unlike a static budget, a flexible budget adjusts based on the actual activity level, providing a realistic benchmark for variance analysis.
Unlike a static budget, a flexible budget adjusts based on the actual activity level, providing a realistic benchmark for variance analysis.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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