Five hundred naria monthly is allowed on an imprest system. The following transactions took place. Period1: Cash advanced to petty…
A. Credit balance of N 200,000 B. Debit balance of N 200,000 C. credit balance of N 3 200,000 D.…
A. omission B. principle C. commission D. original entry Correct Answer: Option B - principle
A. source documents, ledgers and trial balance B. Ledgers, trial balance and source documents C. Ledgers, source documents and trial…
Given: Rent..............N10,000 Rates.............N5,000 Capital...........N50,000 Salaries..........N14,000 Cash..............N26,000 Creditors..........N5,000 A. N110,000 B. N65,000 C. N55,000 D. N45,000 Correct Answer: Option C -…
Given: Liabilities..............N23,700 Current assets...........N20,300 Fixed assets.............N64,500 A. N40,800 B. N61,100 C. N88,200 D. N108 500 Correct Answer: Option B -…
A. stock account and credit cash account B. stock account and credit liability account C. purchase account and credit liability…
A. entity B. realization C. conversactism D. matching Correct Answer: Option B - realization
A. Frank Wood B. Luca Pacioli C. Akintola Williams D. William Pickles Correct Answer: Option B - Luca Pacioli
A. N2 000 B. N2500 C. N4000 D. N35000 Correct Answer: Option A - N2 000