A. The accounting entries for goods stolen in branch will be to debit B. branch stock account and credit branch…
A. Managers B. Customers C. Suppliers D. Staff of the company Correct Answer: Option B - Customers Explanation Customer: customers…
A. it serves-as a control during inflation B. it is calculated at the end of the year C. it is…
A. Income and expenditure account B. profit and loss account C. receipts and payment account D. Non-profit account Correct…
A. increased financial activities B. government intervention C. credit as a factor in business D. Payment for goods in cash…
A. it enable the organization to determine the branch that is making either profit or loss B. it allows proper…
A. Sales B. issue C. purchases D. requisition Correct Answer: Option B - issue
Given: I. It records subscription in arrears II. Payments of liabilities is effected III. The account does not show if…
A. invoice B. cheque book C. credit note D. pay-in-slip Correct Answer: Option D - pay-in-slip Explanation Pay-in-slip: This is…
A. Unpresented cheque B. Dividend C. Uncredited cheque D. credit transfer Correct Answer: Option C - Uncredited cheque Explanation Uncredited…