Discounts allowed is charged to
Discounts allowed is charged to A. trading account B. balance sheet C. current account D. profit and loss…
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Which of the following belongs to the normal ledger?
Which of the following belongs to the normal ledger? A. salaries account B. fixtures account C. stock account…
The source document sent by the seller to the buyer when goods are returned is
The source document sent by the seller to the buyer when goods are returned is A. credit note…
Which of the following is not a liability?
Which of the following is not a liability? A. accrued wages B. rent arrears C. prepayment D. insurance…
A fixed amount of money set aside for petty expenses is
A fixed amount of money set aside for petty expenses is A. imprest B. float C. receipt D.…
Rent Payable Account is an example of a
Rent Payable Account is an example of a A. norminal account B. real account C. personal account D.…
The art of recording transactions in books of account is known as
The art of recording transactions in books of account is known as A. debiting B. book-keeping C. auditing…
The accounting equation is
The accounting equation is A. Capital less current assets amounts to Liabilities B. assets less liabilities amount to…
The purchase of a typewriter for office use was debited to purchases Account. This is…
The purchase of a typewriter for office use was debited to purchases Account. This is an error of…
Which of the following has multiple uses?
Which of the following has multiple uses? A. sales jounal B. purchases journal C. general jounal D. returns…