A. premium B. par C. discount D. loss Correct Answer: Option C C. discount Explanation Share issued at discount is…
A. current account B. profit and loss C. trading account D. balance sheet Correct Answer: Option B B. profit and…
Given: ₦ Additional capital 4000 Capital 8000 Closing capital 12000 Net profit 1500 A. 1500 B. 3000 C. 12,000 D.…
A. Gross profit B. Capital C. Expenses D. Net profit Correct Answer: Option D D. Net profit Explanation The profit…
A. Debit rent account, Credit bank account B. Debit Rent account, Credit Samson's account C. Debit Bank account, Credit Rent…
A. double entry is based on the dual concept while single entry is not based on dual concept B. double…
A. for every debit entry, there must be a corresponding debit entry B. for every credit entry, there must be…
A. credits cash account and debits bank account B. credits cash account and debits drawing A/C C. debits cash account…
A. Increase in assets of motor vehicle account B. Decrease in assets of motor vehicle account C. Increase in assets…
A. The buyers pay immediately for goods bought B. Settlement is deferred to a future date C. No account will…