Re: ::: vuaskari.com ::: My Today Paper of FIN621..

1 Question: why there is need to adjust adusting entries in expense and revenue accounts give reasons?3 marks

2 Question: define accural accounting systems? 3 marks

3 Question: what is the effect of inventory error if not made correct? 3 marks

4 Question: .sales made _______ company 1000 printers on 31 july. prier it they purchase the following stocks

ist july      600 @ 9.25
20 july      900 @9.5

do journal entry if the company used....
1.   FIFO
2.   LIFO                                                Marks 5

5 Question:   Can a company get a positive cash flow from operating activities even if the company has net loss during the period? Explain with the help of example
 

OBJECTIVE WAS MOSTLY PREVIOUS PAPER OF 2011 AND 2012 including 23 MCQs

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