The process of using sales ledger balance to cancel off purchases ledger balance is
The process of using sales ledger balance to cancel off purchases ledger balance is A. Balancing B. Set…
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The cost of putting goods into a saleable condition is charged to
The cost of putting goods into a saleable condition is charged to A. Balance sheet B. Trial balance…
Which of the following is not a method of depreciating fixed assets?
Which of the following is not a method of depreciating fixed assets? A. Revaluation B. Straight Line C.…
Which of the following expresses the accounting equation?
Which of the following expresses the accounting equation? A. Capital + assets = liabilities B. Assets – liabilities…
Discount received account is a
Discount received account is a A. Real account B. Personal account C. Nominal account D. Profit and loss…
Which of the following accounts has a credit balance?
Which of the following accounts has a credit balance? A. Capital B. Cash C. Drawings D. Premises Correct…
What is a ledger entry for the sale of plant and machinery on credit to…
What is a ledger entry for the sale of plant and machinery on credit to Wilson? A. Credit…
The accounting ledger for goods sold on credit are debit
The accounting ledger for goods sold on credit are debit A. debtors account, credit sales account B. creditors…
Goods returned to a supplier is
Goods returned to a supplier is A. Debited to returns outward account B. Credited to returns outwards account…
Which of the following is the equation for determining net profit or loss from the…
Which of the following is the equation for determining net profit or loss from the records of a…