A. statutory allocation B. supplementary budget C. virement D. warrant Correct Answer: Option B - supplementary budget Explanation Supplementary Budget…
Given: Assets and Liabilities of a Local Government Bank balance #6,484,000 Cash # 900,000 General revenue balances #9,774,500 Accrued salaries…
A. the general supervision of all auditing personnel in all the ministries B. the compilation of annual financial statement C.…
A. sales B. purchases C. equality D. floor space Correct Answer: Option C - equality
A. application allotment account and credit discount account B. discount account and credit C. cash account and credit discount account…
A. net income B. revenue reserve C. capital reserve D. net loss Correct Answer: Option C - capital reserve Explanation…
A. par B. premium C. discount D. interest Correct Answer: Option B - premium Explanation Issue of shares at premium…
A. debited to appropriation account B. credited to appropriation account C. treated as an expense in profit and loss account…
A. a deed B. a law C. a constitution D. an article Correct Answer: Option A - a deed Explanation…
A. bonus B. commission C. premium D. goodwill Correct Answer: Option D - goodwill Explanation Goodwill in accounting is an…