1.  Which of the following types of accounts would normally appear on a statement of financial position?

A$.$ Discount received

B$.$ Advertisement

C$.$ Accrued utility expenses

D$.$ Increased in provision for doubtful debts

2.  

Which of the following statements concerning the adjusted trial balance is CORRECT?

A$.$ Non$-$current assets appear in the credit column of the statement of financial position

B$.$ The closing inventories balance is included in the initial trial balance

C$.$ The owner's drawings taken in the period are shown in the adjustments columns of the adjusted trial balance

D$.$ If the initial trial balance balances, an error may still have been made

Answer rating: 100% (QA)

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