Where records maintained are inadequate to facilitate the...
Where records maintained are inadequate to facilitate the preparation of a trading and profit and loss accounts, this is described as
Cost accounting
Bookkeeping
Incomplete records
Double entry
Correct answer is C
Incomplete records refers to a situation in which an organization is not using double-entry bookkeeping. Instead, it is using a more informal accounting system, such as a single-entry system, to maintain a reduced amount of information about its financial results.
Using the following information, \(\begin{array}{c|c} & ₦ \\ \hline \text{club house} &am...
If Fatima was granted a discount of 2% what will be discount allowed? ...
An ordinary share of N80 was issued at N96. The share was issued at? ...
Abdul paid off his indebtedness to John by cash. The accounting entries in Abdul's books are: de...
On the dissolution of a partnership business,the net book value of the assets is transferred to? ...
Bank reconciliation statement reconciles ...
Advertising expenses incurred on a product in a business organization should be charged to ...