The subsidiary books of account are: (i) Sales journal. (ii) Purchases journal. (iii) Return inward journals. (iv) Return outward journals.…
Errors that a trial balance will reveal are (i) Errors undercast. (ii) Errors of omission of one entry or aspect…
The memorandum of association is the document that manages the external affairs of a company e.g. the name of the…
(I) The memorandum of association. (ii) The articles of association. (iii) The prospectus.
The feature of a cash book are: (a) It records only cash or bank transactions. (b) No credit transactions are…
A cash book is an account in which all cash transactions are recorded. It is also a ledger and does…
(i) Issuing shares at par: This means that the amount a shareholder pays for a share will actually appears on…
Preference shares: These are units of a company’s capital which have a fixed rate of dividend. Holders of this class…
(i) The supply voltage of DC machine remains steady while that of AC machine is alternating from positive to negative.…
(i) Undercut - A too rapid rate of travel of electrode or blow pipe. - Use of wrong electrode or…