A. an adjustment account B. a control account C. a suspense account D. a profit and loss account E. a…
A. allowance for prompt payment B. allowance for damaged goods C. allowance off the price list D. discount on creditors…
A. proforma invoice B. credit note C. debit note D. consignment note E. goods return note Correct Answer: Option B…
A. sales day book B. cash book C. ledger D. journal E. purchases day book Correct Answer: Option C -…
A. both the liability and asset are increased B. both the liability and asset are decreased C. liability is increased…
A. if you receive goods on credit the seller becomes your creditor B. for every debit entry there must be…
A. trial balance as a debit B. trial balance as a credit C. balance sheet as a fixed asset D.…
A. debit side of sales control account and the credit side of purchases control account B. debit side of sales…
A. total purchases B. total sales C. the total of the debtors D. the total of the creditors E. the…
A. appropriation account B. current assets in the balance sheet C. current liabilities in the balance sheet D. tradng account…