A. debit and credit notes B. ledger and subsidiary books C. prepayments and accruals D. profit and loss and balance…
A. private, sales and purchases B. personal, general and private C. general, private and sales D. sales, purchases and general…
A. Error of omission B. Error of commission C. Error of transposition D. Error of original entry Correct Answer: Option…
A. cash account B. bank account C. suspense account D. purchases account Correct Answer: Option B - bank account
A. matching B. consistency C. realization D. going concern Correct Answer: Option C - realization
A. records data while the latter interprets B. is regarded as the language of the business while the latter ascertain…
A. revaluation surplus B. pre-incorporation profit C. share premium D. general reserves Correct Answer: Option D - general reserves Explanation…
A. cash B. cheques C. debtors D. stocks Correct Answer: Option C - debtors Explanation The income and expenditure account…
Use the information below to answer this question. Jejelaye Plc stock records for 2009 was given below: Jan 1 received…
A. N7950 B. N8050 C. N7050 D. N8950 Correct Answer: Option A - N7950 Explanation The gross profit percentage of…