Use the following information to answer the question Ade N Bola N Capital Accounts 60,000 40,000 Current Accounts 10,000 Cr …
A. creditors B. goodwill C. accruals D. furniture Correct Answer: Option D D. furniture
A. trading account B. profit and loss account C. appropriation account D. partners current account Correct Answer: Option A A.…
A. debit side of sales account B. debit side of cash account C. credit side of sales account D. credit…
A. vote B. float C. reimbursement D. advance Correct Answer: Option B B. float
A. cash in hand is N1,000 B. cash has been overspent by N1,000 C. total cash paid out is N1,000…
A. Royalties B. carriage inwards C. carriage outwards D. manufacturing wages Correct Answer: Option D D. manufacturing wages
A. small and repetive cash disbursements B. purchases day book C. writing off bad debts D. debtors and creditors Correct…
A. rent account B. sales account C. drawings account D. bank account Correct Answer: Option C C. drawings account
A. auditing B. book-keeping C. debiting D. crediting Correct Answer: Option B C. debiting