29. Brown charged Jones for carriage on goods delivered to Jones' premises. What entries will Brown make in his ledger? A. B. C. D. Debit carriage inwards carriage outwards Jones Jones Credit Jones Jones Carriage inwards Carriage outwards 30. Which entry records a cheque paid to a supplier for goods bought on credit? A. Accounts debited Bank Accounts credited B. C. D. Bank Trade payable Purchase Trade payable Purchases Bank Bank 31. It is said to be an explanation. a record, a summary or a history of similar or particular transactions or events. What is this in accounting 32. 33. is the list of all credit and debit balances on the various accounts at a particular point in time (usually shown in debit and credit columns). is a book which contains a condensed and classified record of all the pecuniary transactions of the business generally brought, transferred or posted from the books of original entry. 34. Information in financial statements is the output of the accounting information system; recording transactions is the,-------- classifying, summarizing and analyzing are the ------- ---and the financial statement is the---------- 35. The trading account is prepared to derive- 36. Expenses and revenues that has not been paid or received on time are known as----- are those expenses to be used in the following period but have been paid for 37. in advance. 38. The cost of asset that is acquired to be used in the organization for a period more than one year is known 39. The expenditure which is incurred to acquire, manufacture or improve assets for the purpose of earning income over time in an organization is known as- 40. State the basic unique critical feature of the ledger- 41. Top management works on A. strategic plan B. corporate plan C. budgeting D. both A & B 42. First step in planning process is to: A. Set an objective B. Evaluate alternatives C. Determine strength and weaknesses D. none of above 43. In what order do managers typically perform the managerial functions?