INTACC1- Chapter 1
Quiz by LYRA VICTORIA V. LASCANO
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- Q1
International Accounting Standards 7 is
Statement of Cash Flows
Presentation of Financial Statements
Statement of Comprehensive Income
30s - Q2
What are the components of cash and cash equivalents?
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Cash on hand includes undeposited receipts and working funds.
truefalseTrue or False30s - Q4
Bond sinking fund is considered as cash if it is expected to be disbursed within 12 months after the reporting period.
falsetrueTrue or False30s - Q5
What is the initial recognition of cash?
Face value
Discounted value
Future value
Present value
30s - Q6
Electronic fund transfers affect bank reconciliation.
falsetrueTrue or False30s - Q7
What is the subsequent recognition of cash?
Face value
Discounted value
Present value
Future value
30s - Q8
International Accounting Standards 1 is
Statement of Comprehensive Income
Presentation of Financial Statements
Statement of Cash Flows
30s - Q9
Group the following into bank and book reconciling items
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Defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
Users enter free textType an Answer30s