Accounting - Practice Test

(A) $$frac{{{ ext{Profit}}}}{{{ ext{P/V ratio}}}}$$

(B) $$frac{{{ ext{Fixed Cost}}}}{{{ ext{Contribution}}}}$$

(C) $$frac{{{ ext{Break Even Sales}}}}{{{ ext{Sales}}}}$$

(D) $$frac{{{ ext{Profit}}}}{{{ ext{Sales}}}}$$

(A) $$frac{{{ ext{Profit}}}}{{{ ext{P/V ratio}}}}$$

(A) 4

(B) 5

(C) 6

(D) 8

(B) 5

(A) Ordinary

(B) Special

(C) Revenue

(D) Capital

(A) Ordinary

(A) Wrong amount entered in the book of original entry

(B) Wrong amount entered in a ledger account

(C) Complete omission of an entry from the book of original entry

(D) All of these

(B) Wrong amount entered in a ledger account

(A) Companies in the same industry use identical accounting procedures and methods, and are consistent

(B) Income and assets have not been over stated

(C) Accounting methods and procedures used have been consistently applied from year to year

(D) All methods and procedures have been utilised

(C) Accounting methods and procedures used have been consistently applied from year to year

Accounting - Study Mode