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The Current Ratio formula is

A. All assets: all liabilities
B. All assets: current liabilities
C. Current assets: all liabilities
D. Current assets: current liabilities

A petty cash book records

A. All petty cash receipts
B. Petty transactions
C. Cash receipts from customers
D. All petty cash expenses

Which one is an example of personal account?

A. Outstanding interest
B. Wages account
C. Cash account
D. Charity account

Audit of the sole-trader business is

A. Compulsory
B. Not compulsory
C. Compulsory in certain cases
D. None of these

Which’ of the following shows the details and results of the company’s profit related activities for a period of time?

A. Balance sheet
B. Statement of financial position
C. Income statement
D. Statement of cash flow

Balance sheet is always prepared

A. For the year ended
B. As on a specific date
C. With no specific date
D. None of these

Saira’s weight is 25 pounds more than Amber. If together they weigh 205 pounds, what is the weight of Saira?

A. 105
B. 90
C. 115
D. 135

If the sum of one third of a number and twice the same number is 28, the number is:

A. 14
B. 28
C. 12
D. 20

What is 10% of 30% of 40%?

A. 0.12%
B. 1.2%
C. 0 012%
D. 12%

If x2 + y2 = 9 and (x – y)2 = 3, what is the value of xy?

A. 3
B. 6
C. 9
D. 16

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