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Bert has extracted the following list of balances from his general ledger at 31 October 20X5：

$

Sales 258,542

Opening inventory 9,649

Purchases 142,958

Expenses 34,835

Non-current assets (carrying amount) 63,960

Receivables 31,746

Payables 13,864

Cash at bank 1,783

Capital 12,525

What is the total of the debit balances in Bert's trial balance at 31 October 20X5?

A

$267,049

B

$275,282

C

$283,148

D

$284,931

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Chapter5Ledgeraccountsanddoubleentry

The debits are as follows:

$

Opening inventory 9,649

Purchases 142,958

Expenses 34,835

Non-current assets 63,960

Receivables 31,746

Cash at bank 1,783

284,931

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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