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MY TODAY'S PAPER
18 MCQS MOST WERE NEW CONCEPTUAL.
1.VALUES WERE GIVEN TO PASS JOURNAL ENTRIES AND PREPARE BALANCE SHEET.
2.VALUES WERE GIVEN EXCEPT FOR THE RATE OF DEPRECIATION AND WE WERE ASKED TO CALCULATE DEPRECIATION USING DIMINISHING BALANCE METHOD.
3.ASKED TO WRITE THREE FACTORS WHICH CREATE DIFFERENCE IN INCOME STATEMENT AND CASH FLOW STATEMENT.
4.IS IT POSSIBLE THAT INCOME STATEMENT SHOW A NET LOSS AND CASH FLOW STATEMENT SHOWING A POSITIVE CASH BALANCE.ALSO HAD TO WRITE AN EXAMPLE.
5.VALUES WERE GIVEN I.E NET SALES AND ACCOUNT RECEIVABLES INCREASED BY SOME AMOUNT.WE WERE ASKED TO SHOW THE NET CASH INFLOW RESULTING FROM THESE TRANSACTIONS