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Home Interview Accounting and Finance Comments

  • Question
  • A capital expenditure results in a debit to


  • Options
  • A. an asset account
  • B. a liability account
  • C. an expense account
  • D. a capital account

  • Correct Answer
  • an asset account 

  • Tags: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO

    Accounting and Finance problems


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    • 1. Who is responsible to pay back all debts?

    • Options
    • A. government
    • B. spouse
    • C. Both A & B
    • D. None of the above
    • Discuss
    • 2. Purchase return and allowances is a contra account

    • Options
    • A. TRUE
    • B. FALSE
    • Discuss
    • 3. Which of the following can increase your credit card?s APR?

    • Options
    • A. making credit card payments
    • B. missing credit card payments
    • C. not using credit card for long time
    • D. All of the above
    • Discuss
    • 4. The accounting process is correctly sequenced as

    • Options
    • A. Identifying?recording?communicating
    • B. Identifying?communicating?recording
    • C. Communicating?Recording?Identifying
    • D. Recording?Communicating?Identifying
    • Discuss
    • 5. Which of the following best describes Accounting?

    • Options
    • A. is an information system that provides reports to its stakeholders regarding economic activities and the condition of the business
    • B. is used only for filling out tax returns and for financial statements for various types of governmental reporting requirements
    • C. records economic data but does not communicate the data to users according to any specific rules
    • D. is of no use by individuals outside of the business
    • Discuss
    • 6. Which of the following statements about minimum payments is incorrect?

    • Options
    • A. If you send in the minimum payment, you will be charged a late fee
    • B. Paying the minimum means you are only paying off a portion of your total debt
    • C. You will still pay interest on your balance if you submit the minimum payment
    • D. Minimum payments are typically only 2-4% of your total debt
    • Discuss
    • 7. In recording an accounting transaction in a double-entry system

    • Options
    • A. there must always be entries made on both sides of the accounting equation.
    • B. the amount of the debits must equal the amount of the credits.
    • C. there must only be two accounts affected by any transaction.
    • D. the number of debit accounts must equal the number of credit accounts.
    • Discuss
    • 8. Which of the following is a type of savings vehicle?

    • Options
    • A. Checking Account
    • B. Certificate of Deposit
    • C. Money Market Account
    • D. Both B & C
    • Discuss
    • 9. Automatic stabilizers refer to

    • Options
    • A. government spending and taxes that automatically increase or decrease along with the business cycle.
    • B. changes in the money supply and interest rates that are intended to achieve macroeconomic policy objectives.
    • C. changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives.
    • D. the money supply and interest rates that automatically increase or decrease along with the business cycle.
    • Discuss
    • 10. OMO refers to
    • Discuss


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