Accounting

A customer who returns goods to the supplier because they are detective is issued a?

A. debit note B. credit note C. delivery note D. bank note Correct Answer: Option B B. credit note

6 years ago

The dividend per ordinary shares for the year is?

Use the following information to answer the given question ₦ ordinary shares of ₦1 each 500,000 8% preference shares of ₦1…

6 years ago

If no profit is to be retained, proposed preference shares dividend is?

Use the following information to answer the given question ₦ ordinary shares of ₦1 each 500,000 8% preference shares of ₦1…

6 years ago

Which of the following is not a revenue account?

A. sales B. purchases C. discount received D. interest received Correct Answer: Option B B. purchases

6 years ago

The basis of accounting which eliminates debtors and creditors is?

A. cash basis B. accrual basis C. fund basis D. commitment basis Correct Answer: Option A A. cash basis

6 years ago

A sales ledger contains?

A. creditors' accounts B. nominal accounts C. real accounts D. debtors' accounts Correct Answer: Option D D. debtors' accounts

6 years ago

A book that contains the account for the financial transactions of an organization is the?

A. journal B. ledger C. folio D. register Correct Answer: Option B B. ledger

6 years ago

Public sector accounting is practiced in?

A. public limited companies B. government organization C. profit-making organization D. public training company Correct Answer: Option B B. government…

6 years ago

A system where a separate cash book is maintained for small payments is?

A. single entry B. imprest C. float D. reimbursement Correct Answer: Option B B. imprest

6 years ago

The depreciation method in which the number of years of the useful life of an asset is allocated in a reverse order is?

A. straight line B. reducing balance C. sum of the years; digits D. revaluation Correct Answer: Option C C. sum…

6 years ago
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