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liabilities. (10) (Answer) The purpose of adjusting entries is to: A i B C D E Adjust the owner’s capital account for the revenue. and withdrawal transactions which occurred during the year. Which of the following is not part of Tier–I capital of the bank: A B C D E Premium on shares Reserve for bonus Surplus on revaluation of securities Discount on issue of shares None of the above iv . expense. revenue and expense accounts for the effects of business transactions Prepare revenue and expense accounts for recording the transactions of the next accounting period None of the above. Apply the realization principle and the matching principle to transactions affecting two or more accounting periods Adjust daily balances in assets. C D E Allocation of the cost of a fixed asset to the periods in which services are received from the asset Regular reduction of asset value to correspond to decline in the market value as the asset ages A process of correlating the carrying value of an asset with its gradual decline in physical efficiency Allocation of cost in a manner that will ensure that plant and equipment items are not carried on the balance sheet at amounts in excess of net realizable value None of the above Which of the following is not the indicator of liquidity position of a bank: A B C D E Credit Deposit Ratio Liquid Assets to Liquid Liabilities Ratio Statutory Liquidity Ratio Currency notes held None of the above iii.1 Please write the alphabate of your choice in the answer column. Which of the following statements best describes the nature of depreciation: A B ii.Q.