Question: please assist with answering QUESTION ONE MULTIPLE CHOICE QUESTIONS (20 1.1 When expense and asset accounts are increased, the A. expense account is debited and
please assist with answering

QUESTION ONE MULTIPLE CHOICE QUESTIONS (20 1.1 When expense and asset accounts are increased, the A. expense account is debited and the asset account is credited. B expense account is debited and the asset account is debited. C expense account is credited and the asset account is debited. D expense account is debited and the asset account is credited. 1.2 Which one of the following is not an example of a source document? A. Original credit sales invoice B Original credit purchases invoice C Duplicate receipt D Bank statement 1.3 An unfavorable bank balance is an example of a/an A. expense B current asset C non-current liability D current liability 1.4 The account of a debtor who is experiencing financial difficulty is written off. This is an of the application of the A matching principle B principle of consistency C prudence principle D principle of materiality 1.5 Which one of the following errors will be revealed by a trial balance? A. A balance from the general ledger was not entered in the trial balance. B. A balance of a debtors account in the Debtors Ledger was incorrectly calculated. C. A purchase of stationery was debited to the equipment account in error. D. Rent received from a tenant was posted to the credit side of interest income account in t ledger. 1.6 The following information was extracted from the records of Boyle Stores for May 2020
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
