The area of accounting concerned with the point
at which turnover is realised in the profit and loss statement
is…..
2
Net sales minus the cost of sales is…
3
That part of the profits of a company that is
distributed to the shareholders in proportion to the number
of shares that they hold is…
4
Two methods of depreciating assets are..
5
Recognition of revenues or expenses when earned
or incurred, without regard to the actual time of the cash transaction
is called…
6
What are the names given to the expenditure that
is written off to the P & L and the expenditure included
on the balance sheet as a fixed asset?
7
The STRGL in an annual report stands for…..
8
An asset that is in the form of cash or that is
expected to be converted into cash in the next 12 months is…
9
Assets having an underlying physical substance
are…
10
A company in which another company owns between
20 and 50% of the equity shares and has a significant influence
over its commercial decisions is…..
11
The intangible assets of a firm, calculated as
the excess purchase price paid over book value are…
12
The gradual planned reduction in value of a non-tangible
asset is…
13
Money received, or due to, a company but not yet
earned is….
14
The current assets of the firm minus the current
liabilities of the firm is called…
15
The type of lease that substantially transfers
the risks and rewards of ownership to the lessee is…..
16
Statements issued by legally separate
companies that show the financial position and income as they
would appear if the companies were one economic entity is called…
17
The relationship between the liabilities of a
company and its equity finance is known as…..
18
A possible obligation arising from past events
whose existence will only be confirmed by one or more uncertain
events that are not wholly within the company’s control
are….
