If salary account is debited instead of stationary accoun...
If salary account is debited instead of stationary account, the error committed is that of?
Commission
Omission
Principle
Compensation
Correct answer is A
An error of principle is an accounting mistake in which an entry is recorded in the incorrect account.
Use the following information to answer the question \(\begin{array}{c|c} & Ade & Bola\\ &a...
Given; Purchases = N20,000 Sales = N40,000 Carriage inwards = N5,000 Carriage outwards = N5,000 ...
Given: Sales ............................N195,200 Stock 1st January.................N34,000 Purch...
Which of the following is a debit item in the purchase ledger control account? ...
\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ ...
Where fixed capital account is maintained, partners Share of profit is transferred to the ...
Credit purchases are always put at 150% of the total cash paid to suppliers Determine the c...