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Question text
While preparing the bank reconciliation statement one should compare the credit column of the bank
statement with the cash payments journal in the accounting records of the business.
Select one:
True
False
Question 3
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Question text
The following items appeared in the bank statement only:
Deposit - Mr Mnguni R12 200
Debit order - Pay Insurers R2 359
Interest from credit balance R455
Deposit fee R10
Monthly account fee R350
What is the amount that will be recorded as bank charges?
Select one:
a.
R455
b.
R815
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, c.
R10
d.
R360
Clear my choice
Question 4
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What is meant by trade receivables?
Select one:
a.
Money owed to an entity by its employees.
b.
Money owed by an entity to its vendors.
c.
Money owed to an entity by its debtors.
d.
Money owed by an entity to its creditors.
Clear my choice
Question 5
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If the asset was bought during the financial year, the depreciation only needs to be calculated during
the first full accounting period in which the asset is used.
Select one:
True
False
Question 6
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