Acquash has sold goods on credit and received N2,200 in cash from debtors. At the end of the previous year…
A. discount allowed account B. interest received account C. cash sales account D. debtors account E. assets account Correct Answer:…
A. trading account B. balance sheet C. profit and loss account D. profit and loss appropriation account E. current account…
A. debit Latifat's account, credit cash book with N100 B. credit Latifat's account, debit cash book with N100 C. credit…
i. written down values ii. historical costs less depreciation for a period only iii. historical costs less total depreciation to…
A. a charge for the wear and tear of a fixed asset B. the cost of replacing a fixed asset…
A. debited to the cash account and credited to the vendor's account B. credited to the cash account and debited…
A. purchases ledger B. general ledger C. nominal ledger D. sales ledger E. private ledger Correct Answer: Option D -…
A. reserved fund B. consolidated revenue fund C. development fund D. contingencies fund E. personal fund Correct Answer: Option B…
A. actual amount spent B. amount of the float C. amount spent above the float D. balance of the float…