Bookkeeping – NBC Institute

FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

Question

The art of recording all monetary transactions of an entity to ascertain the financial position is called?

Answer

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Tags: Bookkeeping, Recording Transactions
Level: Level 1

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

Question

What is the correct balance carried forward in the current account of the partners as recorded by the inexperienced bookkeeper?
A. A debit balance of ₦3,060
B. A debit balance of ₦13,060
C. A credit balance of ₦13,060
D. A debit balance of ₦14,140
E. A credit balance of ₦14,140

Answer

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Tags: Balance Calculation, Bookkeeping, Current Account, Partnership
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2014

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

Question

Which of the following can be regarded as an error in bookkeeping?

A. Intentional correct posting in the ledger
B. Intentional failure to record transactions completely
C. A deliberate manipulation of records
D. Incorrect records and oversights that are not intended
E. Double entry posting in the ledger

Answer

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Tags: Accounting, Bookkeeping, Errors
Level: Level 1

Topic: Correction of errors
Series: MAY 2022

FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

Question

The art of recording all monetary transactions of an entity to ascertain the financial position is called?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bookkeeping, Recording Transactions
Level: Level 1

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Balance Calculation, Bookkeeping, Current Account, Partnership
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2014

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

Question

Which of the following can be regarded as an error in bookkeeping?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting, Bookkeeping, Errors
Level: Level 1

Topic: Correction of errors
Series: MAY 2022

Question Tag: Bookkeeping

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FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

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FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

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FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

You're reporting an error for "FA – May 2014 – L1 – SA – Q19 – Partnership Account"

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

You're reporting an error for "FA – May 2022 – L1 – SA – Q14 – Correction of Errors"

FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions

This question asks about the art of recording monetary transactions to ascertain the financial position.

You're reporting an error for "FA – Nov 2011 – L1 – SA – Q4 – Recording Financial Transactions"

FA – May 2014 – L1 – SA – Q19 – Partnership Account

Determines the correct balance for a partner's current account after adjustments.

You're reporting an error for "FA – May 2014 – L1 – SA – Q19 – Partnership Account"

FA – May 2022 – L1 – SA – Q14 – Correction of Errors

Identify which scenario can be regarded as an error in bookkeeping.

You're reporting an error for "FA – May 2022 – L1 – SA – Q14 – Correction of Errors"

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