Which of the following is added to the proprietor's c...
Which of the following is added to the proprietor's capital?
Net profit
Gross profit
Net sales
Gross sales
Correct answer is A
Net profit is the actual profit after working expenses not included in the calculation of gross profit have been paid. That is, it is the profit after expenses have been deducted from gross profit. It makes up part of the business capital called plough-back profit.
Accounting standards are issued at the International level by the ...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Debtors opening} & 4000 \\ \hline \text{Debt...
Which of the following is among the categories of government cash book? ...
The total of the returns outwards journal is posted to the ...
The transfer of money from one sub-head to another in the public sector is ...
Given: Sales Ledger Control Account (Extracts) Balance b/f N10,600 Total cash payments by debtors...
''Below the line'' item in public sector accounting means such an item is........
A typical example of a real account is? ...
Given: (i) Order of performance (ii) Order of liquidity (iii)Vertical order (i...