A. form of trading account B. proof of arithmetical accuracy of postings C. statement showing profits at a certain date…
A. supplier's account is debited and the purchasers account credited B. returns outwards account is debited and the supplier's account…
A. narration of all transactions and accounts B. debit balances of the accounts C. list of all balances extracted from…
A. carriage outwards B. gross profit C. distribution expenses D. net profit Correct Answer: Option B - gross profit
A. record difference in the books until errors are located B. accumulate debit and credit balances C. accommodate debit balances…
A. preference shares and rights issue B. fixed shares and current share C. ordinary shares and preference shares D. redeemable…
A. current asset B. current liability C. long-term liability D. fixed asset Correct Answer: Option B - current liability
A. repair of generating set B. purchase of inventory C. extension of building D. payment of subscription Correct Answer: Option…
A. profit and loss appropriation B. manufacturing account C. profit and loss account D. trading account Correct Answer: Option A…
Use the following information to answer the given question J. Chike N B. Balla N Current Accounts balance(1/4/98) 4,000 6,000…