What is the first step of the accounting cycle?

1.Who prepares the bank reconciliation statement?

2.What is an NSF cheque?

3.What is not caught by a trial balance? i. Error of omission ii. Error of principle iii. Compensating error Which of the following is correct?

4.If the profit margin on sales is 20%, what is the profit margin on cost?

5.If the net profit changes from 60,000 taka to 80,000 taka , how much will the total assets change?

6.What type of error is this?

7.What is the adjusting entry for outstanding salaries?

8.What is the amount of sales?

9.Which of the following is a capital receipt?

10.A trial balance acts as a link between which of the following?

11.How does paying accounts payable affect the accounting equation?

12.If the owner purchases goods for the business with personal funds, what is the correct journal entry?