A. stock adjustment account debiting branch stock account B. goods sent to branch account and debiting branch stock account C.…
A. it is offered for sale at less than the nominal value B. it is offered for sale at nominal…
A. profit B. loss C. discount D. premium E. par Correct Answer: Option C - discount
A. general reserve B. capital reserve C. goodwill D. current asset E. share capital Correct Answer: Option B - capital…
A. prepayment B. deposit C. accruals D. investment E. advances Correct Answer: Option E - advances
A. bar expenses B. electricity C. salaries D. subscription E. rates Correct Answer: Option D - subscription
A. receipts from debtors B. returns inwards C. returns outwards D. dishonoured cheque E. discount allowed Correct Answer: Option C…
A. amount of goods available was understated B. cost of sales was understated C. amount of purchase returns was understated…
A. they are recorded in the ledger only B. they are not different from cash discount C. they are recorded…
A. sales journal B. principle journal C. purchases journal D. return inwards journal E. return outwards journal Correct Answer: Option…