The term 'Virement' in budgetary control refers to: MCQ with Answer and Explanation
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Question #1
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A Bank Reconciliation Statement is prepared by:
Correct Answer: Option B
Explanation:
BRS is prepared by the customer to reconcile differences between his records and bank statement.
BRS is prepared by the customer to reconcile differences between his records and bank statement.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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In the ledger, what is the meaning of 'c/d'?
Correct Answer: Option B
Explanation:
'Carried down' indicates the balancing figure at the end of a period, which will be brought down (b/d) at the start of the next period.
'Carried down' indicates the balancing figure at the end of a period, which will be brought down (b/d) at the start of the next period.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The system of recording transactions where each transaction is recorded once only is called:
Correct Answer: Option C
Explanation:
Single entry system does not record both aspects; often only personal accounts are maintained.
Single entry system does not record both aspects; often only personal accounts are maintained.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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