Jennifer owns Shanti Roti Shop. Every morning she takes 5 puri from the glass case to give to her children for their lunch. What two accounts are affected by this daily activity?

a.

Drawing Account and Goods Account

b.

Puri Account and Jennifer Account

c.

Drawings Account and Inventory Account

d.

Jennifer Account and Drawings Account

2-

The Accountant at Low's Service Station withdraws $500,000 from the bank for use in the business. How should this transaction be recorded in the General Journal?

a.

Debit Bank and Credit Cash

b.

Debit Cash and Credit Bank

c.

Debit Business and Credit Bank

d.

Debit Drawings and Credit Bank

3-

Which of the following is not a limitation of Management Accounting?

a.

It does not help in knowing the cost behaviour.

b.

It Lacks objectivity.

c.

It is costly to gather information.

d.

The information provided is historical in nature