A. credit sales account and debit Patrick’s account B. credit generator account and debit cash account C. credit sales account…
A. fictitious assets B. liquid assets C. wasting assets D. tangible assets Correct Answer: Option A - fictitious assets Explanation…
A. indirect costs may be controlled B. cost units could gather overhead as they pass through cost centres C. variable…
A. appreciation B. amortization C. provisions D. depreciation Correct Answer: Option D - depreciation Explanation Depreciation is the reduction in…
The imprest of a petty cashier is N2450 Expenses on Printing 420 Cleaning 250 Stamp and postage 175 A.…
Use the information below to answer this question. A limited liability company has an authorized shares capital of 50 million…
Use the following information to answer this question. Provision for bad debt 1500 Additional information 1. Bad debt written off…
A. omission B. commission C. principle D. original entry Correct Answer: Option C - principle
A. deficit B. surplus C. discount D. shortage Correct Answer: Option A - deficit Explanation A deficit occurs for a…
A. prospectus B. memorandum of association C. company law D. articles of association Correct Answer: Option D - articles of…