in the bank statement.

1. A
proof of cash
a.
b. Recognized a
A. Deposit of another company is credited to the account of enterprise.
B. Bank service charge
2.
Which statement is true?
A. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
B. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
C. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
3. The
inventories of a service provider may simply be described as
A. Bank charges not yet recorded by the company
4. Which
will not require an adjusting entry on the depositor’s books?
C. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
D. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
E. Deposit of another company is credited to the account of enterprise.
a. Recognized a
5. The
inventories of a service provider may simply be described as
B. Bank charges not yet recorded by the company
6. Which
will not require an adjusting entry on the depositor’s books?
Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000. in the bank statement.
7. A
proof of cash
a.
b. Recognized a
F. Deposit of another company is credited to the account of enterprise.
G. Bank service charge
8.
Which statement is true?
D. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
E. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
F. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
9. A
proof of cash
a.
b. Recognized a
H. Deposit of another company is credited to the account of enterprise.
I. Bank service charge
10.
Which statement is true?
G. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
H. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
I. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
11. The
inventories of a service provider may simply be described as
C. Bank charges not yet recorded by the company
12. Which
will not require an adjusting entry on the depositor’s books?
J. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
K. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
L. Deposit of another company is credited to the account of enterprise.
a. Recognized a
13. The
inventories of a service provider may simply be described as
D. Bank charges not yet recorded by the company
14. Which
will not require an adjusting entry on the depositor’s books?
Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000. in the bank statement.
15. A
proof of cash
a.
b. Recognized a
M. Deposit of another company is credited to the account of enterprise.
N. Bank service charge
16.
Which statement is true?
J. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
K. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
L. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
17. The
inventories of a service provider may simply be described as
E. Bank charges not yet recorded by the company
18. Which
will not require an adjusting entry on the depositor’s books?
O. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
P. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
Q. Deposit of another company is credited to the account of enterprise.
a. Recognized a
19. The
inventories of a service provider may simply be described as
F. Bank charges not yet recorded by the company
20. Which
will not require an adjusting entry on the depositor’s books?
R. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
S. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
21. A
proof of cash
a.
b. Recognized a
T. Deposit of another company is credited to the account of enterprise.
U. Bank service charge
22.
Which statement is true?
M. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
N. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
O. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
23. The
inventories of a service provider may simply be described as
G. Bank charges not yet recorded by the company
24. Which
will not require an adjusting entry on the depositor’s books?
V. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
W. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
X. Deposit of another company is credited to the account of enterprise.
a. Recognized a
25. The
inventories of a service provider may simply be described as
H. Bank charges not yet recorded by the company
26. Which
will not require an adjusting entry on the depositor’s books?
Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000. in the bank statement.
27. A
proof of cash
a.
b. Recognized a
Y. Deposit of another company is credited to the account of enterprise.
Z. Bank service charge
28.
Which statement is true?
P. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
Q. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
R. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
 a.
b. Recognized a
c. Recognized a
29. The
inventories of a service provider may simply be described as
I. Bank charges not yet recorded by the company
30. Which
will not require an adjusting entry on the depositor’s books?
AA. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
BB. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
CC.Deposit of another company is credited to the account of enterprise.
a. Recognized a
31. The
inventories of a service provider may simply be described as
J. Bank charges not yet recorded by the company
32. Which
will not require an adjusting entry on the depositor’s books?
DD.Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
EE. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
33. A
proof of cash
a.
b. Recognized a
FF. Deposit of another company is credited to the account of enterprise.
GG. Bank service charge
34.
Which statement is true?
S. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
T. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
U. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
35. The
inventories of a service provider may simply be described as
K. Bank charges not yet recorded by the company
36. Which
will not require an adjusting entry on the depositor’s books?
HH.Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
II. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
JJ. Deposit of another company is credited to the account of enterprise.
a. Recognized a
37. The
inventories of a service provider may simply be described as
L. Bank charges not yet recorded by the company
38. Which
will not require an adjusting entry on the depositor’s books?
Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000. in the bank statement.
39. A
proof of cash
a.
b. Recognized a
KK. Deposit of another company is credited to the account of enterprise.
LL. Bank service charge
40.
Which statement is true?
V. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
W. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
X. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
41. The
inventories of a service provider may simply be described as
M. Bank charges not yet recorded by the company
42. Which
will not require an adjusting entry on the depositor’s books?
MM. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
NN.Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
OO. Deposit of another company is credited to the account of enterprise.
a. Recognized a
43. The
inventories of a service provider may simply be described as
N. Bank charges not yet recorded by the company
44. Which
will not require an adjusting entry on the depositor’s books?
PP. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
QQ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
45. A
proof of cash
a.
b. Recognized a
RR.Deposit of another company is credited to the account of enterprise.
SS. Bank service charge
46.
Which statement is true?
Y. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
Z. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
AA. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
47. The
inventories of a service provider may simply be described as
O. Bank charges not yet recorded by the company
48. Which
will not require an adjusting entry on the depositor’s books?
TT. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
UU.Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
VV. Deposit of another company is credited to the account of enterprise.
a. Recognized a
49. The
inventories of a service provider may simply be described as
P. Bank charges not yet recorded by the company
50. Which
will not require an adjusting entry on the depositor’s books?
Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000. in the bank statement.
51. A
proof of cash
a.
b. Recognized a
WW. Deposit of another company is credited to the account of enterprise.
XX. Bank service charge
52.
Which statement is true?
BB. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
CC.Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
DD.An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
53. The
inventories of a service provider may simply be described as
Q. Bank charges not yet recorded by the company
54. Which
will not require an adjusting entry on the depositor’s books?
YY. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor only as
P 10,000.
ZZ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
AAA. Deposit of another company is credited to the account of enterprise.
a. Recognized a
55. The
inventories of a service provider may simply be described as
R. Bank charges not yet recorded by the company
56. Which
will not require an adjusting entry on the depositor’s books?
BBB. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
CCC. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
a. Recognized a
b. Recognized a
57. The
inventories of a service provider may simply be described as
S. Bank charges not yet recorded by the company
58. Which
will not require an adjusting entry on the depositor’s books?
DDD. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
EEE. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
FFF. Deposit of another company is credited to the account of enterprise.
a. Recognized a
59. The
inventories of a service provider may simply be described as
T. Bank charges not yet recorded by the company
60. Which
will not require an adjusting entry on the depositor’s books?
GGG. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
HHH. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
III. Deposit of another company is credited to the account of enterprise.
JJJ.Bank service charge
61.
Which statement is true?
62. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
63. The
inventories of a service provider may simply be described as
in the bank statement.
64. A
proof of cash
a.
b. Recognized a
KKK. Deposit of another company is credited to the account of enterprise.
LLL. Bank service charge
65.
Which statement is true?
EE. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
FF. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
GG. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
66. The
inventories of a service provider may simply be described as
U. Bank charges not yet recorded by the company
67. Which
will not require an adjusting entry on the depositor’s books?
MMM. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
NNN. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
 OOO. Deposit of another company is credited to the account of enterprise.
a. Recognized a
68. The
inventories of a service provider may simply be described as
V. Bank charges not yet recorded by the company
69. Which
will not require an adjusting entry on the depositor’s books?
PPP. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
QQQ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
RRR. Deposit of another company is credited to the account of enterprise.
SSS. Bank service charge
70.
Which statement is true?
71. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
72. The
inventories of a service provider may simply be described as
in the bank statement.
73. A
proof of cash
a.
b. Recognized a
TTT. Deposit of another company is credited to the account of enterprise.
UUU. Bank service charge
74.
Which statement is true?
HH.Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
II. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
JJ. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
75. The
inventories of a service provider may simply be described as
W. Bank charges not yet recorded by the company
76. Which
will not require an adjusting entry on the depositor’s books?
VVV. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
WWW. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
XXX. Deposit of another company is credited to the account of enterprise.
a. Recognized a
77. The
inventories of a service provider may simply be described as
X. Bank charges not yet recorded by the company
78. Which
will not require an adjusting entry on the depositor’s books?
YYY. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
ZZZ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
AAAA. Deposit of another company is credited to the account of enterprise.
BBBB. Bank service charge
79.
Which statement is true?
80. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
81. The
inventories of a service provider may simply be described as
in the bank statement.
82. A
proof of cash
a.
b. Recognized a
CCCC. Deposit of another company is credited to the account of enterprise.
DDDD. Bank service charge
83.
Which statement is true?
KK. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
LL. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
MM. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
84. The
inventories of a service provider may simply be described as
Y. Bank charges not yet recorded by the company
85. Which
will not require an adjusting entry on the depositor’s books?
EEEE. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
FFFF. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
GGGG. Deposit of another company is credited to the account of enterprise.
a. Recognized a
86. The
inventories of a service provider may simply be described as
Z. Bank charges not yet recorded by the company
87. Which
will not require an adjusting entry on the depositor’s books?
HHHH. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
IIII. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
JJJJ. Deposit of another company is credited to the account of enterprise.
 KKKK. Bank service charge
88.
Which statement is true?
89. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
90. The
inventories of a service provider may simply be described as
in the bank statement.
91. A
proof of cash
a.
b. Recognized a
LLLL. Deposit of another company is credited to the account of enterprise.
MMMM. Bank service charge
92.
Which statement is true?
NN.Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
OO. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
PP. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
93. The
inventories of a service provider may simply be described as
AA. Bank charges not yet recorded by the company
94. Which
will not require an adjusting entry on the depositor’s books?
NNNN. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
OOOO. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
PPPP. Deposit of another company is credited to the account of enterprise.
a. Recognized a
95. The
inventories of a service provider may simply be described as
BB. Bank charges not yet recorded by the company
96. Which
will not require an adjusting entry on the depositor’s books?
QQQQ. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
RRRR. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
SSSS. Deposit of another company is credited to the account of enterprise.
TTTT. Bank service charge
97.
Which statement is true?
98. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
 b. Recognized a
c. Recognized a
d. Recognized a
99. The
inventories of a service provider may simply be described as
in the bank statement.
100. A
proof of cash
a.
b. Recognized a
UUUU. Deposit of another company is credited to the account of enterprise.
VVVV. Bank service charge
101.
Which statement is true?
QQ. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
RR.Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
SS. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
102. The
inventories of a service provider may simply be described as
CC.Bank charges not yet recorded by the company
103. Which
will not require an adjusting entry on the depositor’s books?
WWWW. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
XXXX. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
YYYY. Deposit of another company is credited to the account of enterprise.
a. Recognized a
104. The
inventories of a service provider may simply be described as
DD.Bank charges not yet recorded by the company
105. Which
will not require an adjusting entry on the depositor’s books?
ZZZZ. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
AAAAA. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
BBBBB. Deposit of another company is credited to the account of enterprise.
CCCCC. Bank service charge
106.
Which statement is true?
107. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
108. The
inventories of a service provider may simply be described as
DDDDD.
 EEEEE. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
FFFFF. Deposit of another company is credited to the account of enterprise.
GGGGG. Bank service charge
109.
Which statement is true?
110. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
111. The
inventories of a service provider may simply be described as
EE. Bank charges not yet recorded by the company
112. Which
will not require an adjusting entry on the depositor’s books?
HHHHH. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
IIIII. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as P 5,000.
JJJJJ. Deposit of another company is credited to the account of enterprise.
KKKKK. Bank service charge
113.
Which statement is true?
114. will
not require an adjusting entry on the depositor’s books?
LLLLL. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
MMMMM. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
NNNNN. Deposit of another company is credited to the account of enterprise.
OOOOO. Bank service charge
115.
Which statement is true?
TT. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
UU.Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
VV. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
WW. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
116. A
proof of cash
A. Is a physical count of currencies on hand on balance sheet date.
B. Is a formal statement showing the total cash receipts during the year.
C. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
D. Is a summary of A proof of cash would be useful for
A. Discovering cash receipts that have not been recorded in the journal.
B. Discovering time lag in making deposits.
C. Discovering cash receipts and cash payments.
D. Discovering an inadequate separation of incompatible duties of employees.
117. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
 a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
118. The
inventories of a service provider may simply be described as
FF. Bank charges not yet recorded by the company
119. Which
will not require an adjusting entry on the depositor’s books?
PPPPP. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
QQQQQ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
RRRRR. Deposit of another company is credited to the account of enterprise.
SSSSS. Bank service charge
120.
Which statement is true?
XX. Bank service charge will cause the cash balance per ledger to be higher than that reported by the
bank, all other things being equal.
YY. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
ZZ. An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
121. The
inventories of a service provider may simply be described as
GG. Bank charges not yet recorded by the company
122. Which
will not require an adjusting entry on the depositor’s books?
TTTTT. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
UUUUU. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
VVVVV. Deposit of another company is credited to the account of enterprise.
a. Recognized a
123. The
inventories of a service provider may simply be described as
HH.Bank charges not yet recorded by the company
124. Which
will not require an adjusting entry on the depositor’s books?
WWWWW. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
XXXXX. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
YYYYY. Deposit of another company is credited to the account of enterprise.
ZZZZZ. Bank service charge
125.
Which statement is true?
126. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
127. The
inventories of a service provider may simply be described as
II. Bank charges not yet recorded by the company
128. Which
will not require an adjusting entry on the depositor’s books?
AAAAAA. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
BBBBBB. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
CCCCCC. Deposit of another company is credited to the account of enterprise.
DDDDDD. Bank service charge
129.
Which statement is true?
130. will
not require an adjusting entry on the depositor’s books?
EEEEEE. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
FFFFFF. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
GGGGGG. Deposit of another company is credited to the account of enterprise.
HHHHHH. Bank service charge
131.
Which statement is true?
AAA. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
BBB. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
CCC. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
DDD. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
132. A
proof of cash
E. Is a physical count of currencies on hand on balance sheet date.
F. Is a formal statement showing the total cash receipts during the year.
G. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
H. Is a summary of A proof of cash would be useful for
E. Discovering cash receipts that have not been recorded in the journal.
F. Discovering time lag in making deposits.
G. Discovering cash receipts and cash payments.
H. Discovering an inadequate separation of incompatible duties of employees.
133. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
134. The
inventories of a service provider may simply be described as
JJ. Bank charges not yet recorded by the company
135. Which
will not require an adjusting entry on the depositor’s books?
IIIIII. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
 JJJJJJ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
KKKKKK. Deposit of another company is credited to the account of enterprise.
LLLLLL. Bank service charge
136.
Which statement is true?
EEE. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
FFF. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
GGG. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
137. The
inventories of a service provider may simply be described as
KK. Bank charges not yet recorded by the company
138. Which
will not require an adjusting entry on the depositor’s books?
MMMMMM. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
NNNNNN. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
OOOOOO. Deposit of another company is credited to the account of enterprise.
a. Recognized a
139. The
inventories of a service provider may simply be described as
LL. Bank charges not yet recorded by the company
140. Which
will not require an adjusting entry on the depositor’s books?
PPPPPP. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
QQQQQQ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
RRRRRR. Deposit of another company is credited to the account of enterprise.
SSSSSS. Bank service charge
141.
Which statement is true?
142. Bank
service charge will cause the cash balance per ledger to b and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
143. The
inventories of a service provider may simply be described as
MM. Bank charges not yet recorded by the company
144. Which
will not require an adjusting entry on the depositor’s books?
TTTTTT. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
UUUUUU. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
VVVVVV. Deposit of another company is credited to the account of enterprise.
WWWWWW. Bank service charge
145.
Which statement is true?
146. will
not require an adjusting entry on the depositor’s books?
XXXXXX. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
YYYYYY. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
ZZZZZZ. Deposit of another company is credited to the account of enterprise.
AAAAAAA. Bank service charge
147.
Which statement is true?
HHH. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
III. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
JJJ.An error made by a bank by charging an amount to the depositor’s account requires a correcting entry
in the depositor’s own records.
KKK. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
148. A
proof of cash
I. Is a physical count of currencies on hand on balance sheet date.
J. Is a formal statement showing the total cash receipts during the year.
K. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
L. Is a summary of A proof of cash would be useful for
I. Discovering cash receipts that have not been recorded in the journal.
J. Discovering time lag in making deposits.
K. Discovering cash receipts and cash payments.
L. Discovering an inadequate separation of incompatible duties of employees.
149. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
150. The
inventories of a service provider may simply be described as
NN.Bank charges not yet recorded by the company
151. Which
will not require an adjusting entry on the depositor’s books?
BBBBBBB. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
CCCCCCC.Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
DDDDDDD.Deposit of another company is credited to the account of enterprise.
EEEEEEE. Bank service charge
152.
Which statement is true?
LLL. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
MMM. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
 NNN. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
153. The
inventories of a service provider may simply be described as
OO. Bank charges not yet recorded by the company
154. Which
will not require an adjusting entry on the depositor’s books?
FFFFFFF. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
GGGGGGG. Check in payment of account payable amounting to P 50,000 is recorded by the
depositor as P 5,000.
HHHHHHH.Deposit of another company is credited to the account of enterprise.
a. Recognized a
155. The
inventories of a service provider may simply be described as
PP. Bank charges not yet recorded by the company
156. Which
will not require an adjusting entry on the depositor’s books?
IIIIIII. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
JJJJJJJ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
KKKKKKK. Deposit of another company is credited to the account of enterprise.
LLLLLLL. Bank service charge
157.
Which statement is true?
OOO. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
PPP. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
QQQ. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
RRR. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
158. A
proof of cash
M. Is a physical count of currencies on hand on balance sheet date.
N. Is a formal statement showing the total cash receipts during the year.
O. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
P. Is a summary of cash receipts and cash payments.

159. A
proof of cash would be useful for
M. Discovering cash receipts that have not been recorded in the journal.
N. Discovering time lag in making deposits.
O. Discovering cash receipts and cash payments.
P. Discovering an inadequate separation of incompatible duties of employees.
Q. showing the total cash receipts during the year.
R. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
 S. Is a summary of cash receipts and cash payments.

160. A
proof of cash would be useful for
Q. Discovering cash receipts that have not been recorded in the journal.
R. Discovering time lag in making deposits.
S. Discovering cash receipts and cash payments.
T. Discovering an inadequate separation of incompatible duties of employees.
161. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
162. The
inventories of a service provider may simply be described as
QQ. Bank charges not yet recorded by the company
163. Which
will not require an adjusting entry on the depositor’s books?
MMMMMMM. Collection from customer deposited in the amount of P 100,000 but recorded by the
depositor only as P 10,000.
NNNNNNN.Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
OOOOOOO. Deposit of another company is credited to the account of enterprise.
PPPPPPP. Bank service charge
164.
Which statement is true?
SSS. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
TTT. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
UUU. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
VVV. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
165. A
proof of cash
T. Is a physical count of currencies on hand on balance sheet date.
U. Is a formal statement showing the total cash receipts during the year.
V. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
W. Is a summary of cash receipts and cash payments.

166. A
proof of cash would be useful for
U. Discovering cash receipts that have not been recorded in the journal.
V. Discovering time lag in making deposits.
W. Discovering cash receipts and cash payments.
X. Discovering an inadequate separation of incompatible duties of employees.
167. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
X. Recognized as other expense in the period the witedown or loss occurs. currencies on hand on
balance sheet date.
Y. Is a formal statement showing the total cash receipts during the year.
 Z. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
AA. Is a summary of cash receipts and cash payments.

168. A
proof of cash would be useful for
Y. Discovering cash receipts that have not been recorded in the journal.
Z. Discovering time lag in making deposits.
AA. Discovering cash receipts and cash payments.
BB. Discovering an inadequate separation of incompatible duties of employees.
169. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
170. The
inventories of a service provider may simply be described as
RR.Bank charges not yet recorded by the company
171. Which
will not require an adjusting entry on the depositor’s books?
QQQQQQQ. Collection from customer deposited in the amount of P 100,000 but recorded by the
depositor only as P 10,000.
RRRRRRR.Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
SSSSSSS. Deposit of another company is credited to the account of enterprise.
TTTTTTT. Bank service charge
172.
Which statement is true?
WWW. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
XXX. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
YYY. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
173. The
inventories of a service provider may simply be described as
SS. Bank charges not yet recorded by the company
174. Which
will not require an adjusting entry on the depositor’s books?
UUUUUUU.Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
VVVVVVV. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
WWWWWWW. Deposit of another company is credited to the account of enterprise.
XXXXXXX. Bank service charge
175.
Which statement is true?
ZZZ. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
AAAA. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
 BBBB. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
CCCC. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
176. A
proof of cash
BB. Is a physical count of currencies on hand on balance sheet date.
CC.Is a formal statement showing the total cash receipts during the year.
DD.Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
EE. Is a summary of cash receipts and cash payments.

177. A
proof of cash would be useful for
CC.Discovering cash receipts that have not been recorded in the journal.
DD.Discovering time lag in making deposits.
EE. Discovering cash receipts and cash payments.
FF. Discovering an inadequate separation of incompatible duties of employees.
FF. showing the total cash receipts during the year.
GG. Is a four column bank reconciliation showing the reconciliation of cash balance per book and
per bank at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
HH.Is a summary of cash receipts and cash payments.

178. A
proof of cash would be useful for
GG. Discovering cash receipts that have not been recorded in the journal.
HH.Discovering time lag in making deposits.
II. Discovering cash receipts and cash payments.
JJ. Discovering an inadequate separation of incompatible duties of employees.
179. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
180. The
inventories of a service provider may simply be described as
TT. Bank charges not yet recorded by the company
181. Which
will not require an adjusting entry on the depositor’s books?
YYYYYYY. Collection from customer deposited in the amount of P 100,000 but recorded by the depositor
only as P 10,000.
ZZZZZZZ. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
AAAAAAAA. Deposit of another company is credited to the account of enterprise.
BBBBBBBB. Bank service charge
182.
Which statement is true?
DDDD. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
EEEE. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
FFFF. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
 GGGG. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
183. A
proof of cash
II. Is a physical count of currencies on hand on balance sheet date.
JJ. Is a formal statement showing the total cash receipts during the year.
KK. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
LL. Is a summary of cash receipts and cash payments.

184. A
proof of cash would be useful for
KK. Discovering cash receipts that have not been recorded in the journal.
LL. Discovering time lag in making deposits.
MM. Discovering cash receipts and cash payments.
NN.Discovering an inadequate separation of incompatible duties of employees.
185. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
MM. Recognized as other expense in the period the witedown or loss occurs. currencies on hand
on balance sheet date.
NN.Is a formal statement showing the total cash receipts during the year.
OO. Is a four column bank reconciliation showing the reconciliation of cash balance per book and
per bank at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
PP. Is a summary of cash receipts and cash payments.

186. A
proof of cash would be useful for
OO. Discovering cash receipts that have not been recorded in the journal.
PP. Discovering time lag in making deposits.
QQ. Discovering cash receipts and cash payments.
RR.Discovering an inadequate separation of incompatible duties of employees.
187. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
188. The
inventories of a service provider may simply be described as
UU.Bank charges not yet recorded by the company
189. Which
will not require an adjusting entry on the depositor’s books?
CCCCCCCC. Collection from customer deposited in the amount of P 100,000 but recorded by the
depositor only as P 10,000.
DDDDDDDD. Check in payment of account payable amounting to P 50,000 is recorded by the
depositor as P 5,000.
EEEEEEEE. Deposit of another company is credited to the account of enterprise.
FFFFFFFF. Bank service charge
190.
Which statement is true?
HHHH. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
 IIII. Outstanding checks will cause balance per ledger to be greater than the balance reported by the
bank, all other things being equal.
JJJJ. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a.
b. Recognized a
c. Recognized a
191. The
inventories of a service provider may simply be described as
VV. Bank charges not yet recorded by the company
192. Which
will not require an adjusting entry on the depositor’s books?
GGGGGGGG. Collection from customer deposited in the amount of P 100,000 but recorded by the
depositor only as P 10,000.
HHHHHHHH. Check in payment of account payable amounting to P 50,000 is recorded by the
depositor as P 5,000.
IIIIIIII. Deposit of another company is credited to the account of enterprise.
JJJJJJJJ. Bank service charge
193.
Which statement is true?
KKKK. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
LLLL. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
MMMM. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
NNNN. The cash amount shown in the balance sheet must be the balance reported in the bank
statement.
194. A
proof of cash
QQ. Is a physical count of currencies on hand on balance sheet date.
RR.Is a formal statement showing the total cash receipts during the year.
SS. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
TT. Is a summary of cash receipts and cash payments.

195. A
proof of cash would be useful for
SS. Discovering cash receipts that have not been recorded in the journal.
TT. Discovering time lag in making deposits.
UU.Discovering cash receipts and cash payments.
VV. Discovering an inadequate separation of incompatible duties of employees.
UU.showing the total cash receipts during the year.
VV. Is a four column bank reconciliation showing the reconciliation of cash balance per book and per bank
at the beginning and end of the current month and reconciliation of cash receipts and cash
disbursements of the bank and the depositor during the current month.
WW. Is a summary of cash receipts and cash payments.

196. A
proof of cash would be useful for
WW. Discovering cash receipts that have not been recorded in the journal.
XX. Discovering time lag in making deposits.
YY. Discovering cash receipts and cash payments.
ZZ. Discovering an inadequate separation of incompatible duties of employees.
197. The
amount of any writedown of inventory to net realizable value and all losses of inventory shall be
a. Deferred until
b. Recognized a
c. Recognized a
d. Recognized a
e. Recognized a
198. The
inventories of a service provider may simply be described as
WW. Bank charges not yet recorded by the company
199. Which
will not require an adjusting entry on the depositor’s books?
KKKKKKKK. Collection from customer deposited in the amount of P 100,000 but recorded by the
depositor only as P 10,000.
LLLLLLLL. Check in payment of account payable amounting to P 50,000 is recorded by the depositor as
P 5,000.
MMMMMMMM. Deposit of another company is credited to the account of enterprise.
NNNNNNNN. Bank service charge
200.
Which statement is true?
OOOO. Bank service charge will cause the cash balance per ledger to be higher than that reported by
the bank, all other things being equal.
PPPP. Outstanding checks will cause balance per ledger to be greater than the balance reported by
the bank, all other things being equal.
QQQQ. An error made by a bank by charging an amount to the depositor’s account requires a
correcting entry in the depositor’s own records.
a. Recognized a
b. Recognized a
c. Recognized a
201. The
inventories of a service provider may simply be described as
a. Unbilled servi

c. Billed s
b. Work in progr

d. Services
202. Freigh
t and other handling charges incurred in the transfer of goods from the consignor to consignee are
a. I
nventoriable by the consignor
b. E
xpense on the part of the consignor
c. I
nventoriable by the consignee
d. a
l
s
e
;

T
r
u
e

d
.

F
a
l
s
e
;

F
a
l
s
e