If sales return is understated, it implies that ---------...
If sales return is understated, it implies that ------------------------------ is overstated
Return inward
Sales figure
Cost of sales
Return outward
Correct answer is B
This is so because returns inwards are deducted from sales to ascertain the actual sales made after subtracting defected goods
Given: Capital at start.......................N3250 Capital at close .....................N6250 A...
Which of the following is a trading account item? ...
In the balance sheet, the balance on the provision for Depreciation Account shown as ...
The allocation of funds from treasury to accounting heads in public sector is ...
Errors in the ledger can be corrected through ...
A partnership on admitting a new member, revalued the business' land and building from N30,000 t...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
The accounting method that reports incomes when earned and expenses when incurred is called? ...