A. Bank Account; credit Cash Account B. Cash Account; credit Bank Account C. Cash Account; credit Drawings Account D. Drawings…
A. ordinary dividend B. preference dividend C. capital reserve D. general reserve Correct Answer: Option B - preference dividend Explanation…
Use the following information to answer the question below Le Raw materials: Stock (01/01/2017) 822000 Stock (31/12/2017) 560000 Purchases 125000…
Use the following information to answer questions below Le Raw materials: Stock (01/01/2017) 822000 Stock (31/12/2017) 560000 Purchases 125000 Returns…
A. balance sheet B. ledger C. trial balance D. journal Correct Answer: Option B - ledger Explanation The ledger contains…
A. long-term liabilities B. current assets C. current liabilities D. fixed assets Correct Answer: Option B = current assets Explanation…
A. balance sheet B. general ledger C. general journal D. trial balance Correct Answer: Option C - general journal Explanation…
A. contingency warrant B. supplementary general warrant C. reserved expenditure warrant D. virement warrant Correct Answer: Option A - contingency…
Teteh and Kukuma are in partnership with capital balances of #300,000 and #200,000 respectively. They agreed to share profit on…
A. paid-up capital B. authorized capital C. reserve capital D. loan capital Correct Answer: Option B - authorized capital Explanation…