Set 1 MCQ Questions and Answers

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Accounting Multiple Choice Questions and Answers [Pdf Download]: Here learn introduction to financial accounting multiple choice questions and answers and download financial accounting mcqs with answers pdf.

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11) The process of entering all transactions from the Journal to Ledger is called

12) The following is a statement showing the financial status of the comapany at any given time

13) The following is a statement of revenues and expenses for a specific period of time

14) Balance sheet is a statement of

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15) Balance sheets are prepared

16) The ratios that refer to the ability of the firm to meet the short term obligations out of its short term resources

17) The measure of how efficiently the assets resources are employed by the firm is called

18) The following is (are) the current liability (ies)

19) Current ratio =

20) Liquid or Quick assets =

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