Accounting

Expenditure incurred to maintain an asset’s earning capacity is called?

A. capacity expenditure B. revenue expenditure C. general expenditure D. tangible expenditure E. intangible expenditure Correct Answer: Option B -…

5 years ago

In the consignee’s record account, the accounting treatment of expenses paid for on behalf of the consignor is debit

A. consignee's account, credit cash account, credit cash account B. cash account, credit consignor's account C. consignee's account, credit cash…

5 years ago

Which of the following does a consignee prepare and send to his consignor?

A. account receivable B. current account C. account payable D. account sales E. consignment account Correct Answer: Option D -…

5 years ago

The aggregate of amounts owed to a business by is customers is known as?

A. accounts receivable B. account current C. accounts payable D. accumulated fund E. debtors' fund Correct Answer: Option A -…

5 years ago

The maximum amount which a company can raise by way of selling share is?

A. issued capital B. working capital C. paid-up capital D. shareholders capital E. authorized capital Correct Answer: Option E

5 years ago

A fund established for the payment of minor expenses is?

A. cash discount B. cash flow C. petty cash D. accumulated fund E. reserve Correct Answer: Option D - accumulated…

5 years ago

Which of the following are on the bank statement before reconciliation?

i. standing order ii. payment to a creditor iii. receipt from a debtor iv. uncredited cheque v. unpresented cheque A.…

5 years ago

When a business is purchased, the double entries required in the purchaser’s book are debit?

A. vendor's account and credit purchase of business account B. asset account and credit purchases of business account C. cash…

5 years ago

The financial plan of the government for a year is contained in the ______?

A. vote book B. cash analysis book C. budget D. general order E. gazette Correct Answer: Option C - budget

5 years ago

Which of the following is not a cause discrepancy between cash book and bank statement balances?

A. deposits in transit B. standing order C. paid cheques D. dishonoured cheque E. uncredited cheques Correct Answer: Option C…

5 years ago