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Fundamentals of Financial Accounting

Last Update Dec 3, 2024
Total Questions : 393

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BA1 Total Questions : 468 Updated : Dec 3, 2024
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Fundamentals of Financial Accounting Questions and Answers

Questions 1

Accounting records should be kept by all businesses for many reasons.

Which THREE of the following are reasons for keeping accounting records?

Options:

A.

Aids the efficient running of a business

B.

Indicates how successfully managers are performing

C.

To aid the application of bank loans

D.

To reassure employees

E.

Provides information about the resources and activities of a business

F.

In case of potential takeovers

Questions 2

Refer to the exhibit.

The following information is available for a company:

The company has declared an ordinary dividend of $0.05 per share.

What is the total dividend payment to be made by the company?

Options:

A.

$150,000

B.

$100,000

C.

$175,000

D.

$250,000

Questions 3

Published accounts must include the following statements:

Options:

A.

Income statement, statement of financial position and statement of cash flows

B.

Manufacturing account, income statement, statement of financial position and statement of cash flows

C.

Income statement and statement of financial position

D.

Trading account, income statement and statement of financial position

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