A. annual discount B. trade discount C. periodic discount D. cash discount Correct Answer: Option D - cash discount Explanation…
A. current account B. profit and loss account C. profit and loss appropriation account D. capital account Correct Answer: Option…
The amount of the imprest is the same from one organization to another. At the end of a fixed period,…
A. value-added tax B. statutory allocation C. taxes and levies D. recurrent revenue Correct Answer: Option B - statutory allocation…
A. accounts for notional charges B. records transactions that relate to the period on a cash basis C. records transactions…
A. a price above or below the stipulated price B. any price but not below the transfer price C. cost…
Badge Plc issued 450,000 ordinary shares of 50k each at #1.50 per share Application and allotment 45k 1st call 50k…
A proprietor started business with #13,000. Assets and liabilities at the end of the year; fixed assets #8,800, stock #,…
A. single entry B. real accounts C. nominal accounts D. double entry Correct Answer: Option A - single entry Explanation…
Turaki Youth Club Income and Expenditure for the year ended 31/12/04 Bal.b/d 390 Expenses on cleaning = #300 Sales of…