Question

1. Please match the information in Column B with the items listed in Column A. You should write down only the letter of your choice next to the corresponding number Column A HST Report Trial Balance Cost of Sales/Purchases Current Assets Column B This report lists all your accounts, including System Accounts, for a selected period. Assets expected to be sold or used within a year, such as cash. This report lists HST/ GST transactions for reporting purposes. This report is a formal record or log detailing all the financial transactions of the company. This report details your company's income and expenses. This is the cost of all physical Item sales, based on the weighted average cost of the Item at the time of sale, plus the cost of all service item purchases. Cost incurred, such as advertising, rent, stationery and so on. Expenses Profit and Loss Report Audit Trail Report

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Answer 1

Ans.	(i)	C
	(ii)	A
	(iii)	F
	(iv)	B
	(v)	G
	(vi)	E
	(vii)	D
	*Explanations:
	HST Report -	This report lists HST / GST transactions for reporting purposes
	Trial balance -	This report lists all your accounts, including system accounts, for a selected period
	Cost of sales / purchases	This is the cost of all physical items sales, based on the weighted average cost of the item
		at the time of sales, plus the cost of all service item purchases.
	Current assets	Assets expected to be sold or used within a year, such as cash.
	Expenses	Cost incurred, such as advertising, rent, stationery and so on.
	Profit and loss Report	This report details your company's income and expenses.
	Audit Trail Report	This report is a formal record or log detailing all the financial transactions of the company.