Accounting

Which of the following is the personal ledger?

A. assets account B. discount allowed account C. sales account D. discount received account E. debtors account Correct Answer: Option…

5 years ago

Partners salary is shown in the?

A. trading account B. profit and loss account C. income and expenditure D. profit and loss appropriation account E. partner's…

5 years ago

Which of the following is not a Nominal Account?

A. electricity account B. furniture and fittings account C. postages and telephone account D. insurance account E. discount allowed account…

5 years ago

A balance sheet is prepared?

A. for the year ended...........19 x 1 B. for............19 x 1 C. as to.............19 x 1 D. in the year..............19…

5 years ago

Which of the following is not asset?

A. bad debt provision B. rent in arrears C. sales D. accrued wages E. insurance prepaid Correct Answer: Option E…

5 years ago

Carriage inwards are included on goods?

A. on display B. sold C. in process D. purchases E. on return Correct Answer: Option D - purchases

5 years ago

The accountant-general disburses government funds by the use of?

A. a voucher B. a warrant C. an estimate D. a vote E. aa provision Correct Answer: Option B -…

5 years ago

Which of the following is a source of the local government Revenue?

A. personal income tax B. sales of armed forces property C. repayment (state) D. repayment (Interest and General) E. market…

5 years ago

Opening stock + Purchases + carriage inwards is equal to?

A. total sales B. cost of goods sold C. cost of goods available for sale D. gross profit E. prime…

5 years ago

Which of the following is the least liquid?

A. stock B. debtors C. bills receivable D. payment machinery Correct Answer: Option D - payment machinery

5 years ago