Accounting

A general journal contains?

A. date, narration, folio, debit, and purchases B. date, narration, folio, debit and purchase C. folio, credit, date, debit and…

4 years ago

The most convenient cash book used by a petty trader operating in an area where there is no banking facility is?

A. four column B. three column C. single column D. two column Correct Answer: Option C - single column

4 years ago

A source document that aids the ascertainment of amount paid out of current account is the?

A. teller B. cheque stub C. cheque D. teller stub Correct Answer: Option B - cheque stub

4 years ago

Which of the following is an example of intangible assets?

A. trade debtors B. stock of goods C. trade creditors D. motor vehicles Correct Answer: Option A - trade debtors

4 years ago

The main objective of bookkeeping is to record economic?

A. transactions systematically for routine managerial decision-making B. events clearly to ensure adequate checks and balances C. events clearly to…

4 years ago

In order to make the cash book balance equal to the bank statement; it is usual to add?

A. uncredited cheques B. direct payments by bank C. bank charges D. unpresented cheques Correct Answer: Option D - unpresented…

4 years ago

To write off bad debt; debt?

A. debtor's account and credit provision for bad debt B. bad debt account and credit debtor's account C. debtor's account…

4 years ago

The amount owed by Zaria Holdings as at November 29 is?

On November 1, 1998, Zaria Holdings owed N13,600 in respect of a creditor. On November 15, it purchases goods worth…

4 years ago

Calculate the shareholders fund?

Given: Authorized Capital: N 100,000 ordinary shares of N 1 cash Issued and fully paid: 50,000 ordinary shares of N…

4 years ago

Determine the net current assets?

Given: Authorized Capital: N 100,000 ordinary shares of N 1 cash Issued and fully paid: 50,000 ordinary shares of N…

4 years ago