The main features of the single system are that?
...The main features of the single system are that?
Books of accounts are not maintained and business relies only on bank statement
The journal records are absent and only the main ledger is kept 7
There are incomplete classifications and recording procedures
Only credit sales transactions and credit purchase are recorded
Correct answer is C
No explanation has been provided for this answer.
One of the objective of maintaining the account of a branch at the head office is to ...
Purchasers - #44,880 Sales - #85,850 Trade creditors - #12,250 Trade debtors - #24,000 Accrued e...
The net profit or loss for the year is determined in profit and loss account after ...
Trading Account (Extract) .................N.............................N...... Opening stock.....
Cost of rent as an expense can be apportioned to all department on the basis of: ...
The income and expenditure account differs from receipts and payments account because it ...
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditor...
Cash purchase - D29,641 Creditors 1/1/14 - D2,473 Creditors 31/12/14 - D3,117 Cash paid to credit...