A. wages and salaries account B. machinery account C. capital account D. drawings account E. Malaga and sons account Correct…
A. goodwill B. overdraft C. preliminary expenses D. prepayments E. outstanding expense Correct Answer: Option D - prepayments
A. no interest at all B. interest at the rate of 2½% per annum C. interest at the rate 5%…
A. buying in large quantity B. prompt settlement of account C. being a regular customer D. introducing other customers E.…
A. undercast note B. consignment invoice C. purchases in voice D. debit note E. credit note Correct Answer: Option D…
A. debit cash account N5,200, credit suspense account N5,200 B. credit cash account N5,200, debit suspense account N5,200 C. debit…
A. credit cash account, debit bank account B. debit cash account, credit bank account C. debit officer account, credit bank…
A. debit side of profit and loss account B. credit side of profit and loss account C. credit side of…
A. provision for bad debts is deducted from debtors total in the Balance sheet B. An increase in provision for…
Halima N Ibinabo N Capital accounts 1st Jan, 1992 100,000 50,000 Current accounts 1st Jan, 1992 20,000 40,000 Drawing during…