A double entry for a transaction that offsets one amount ...
A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a
Original entry
Contra entry
Prime entry
Contract entry
Correct answer is B
Contra entry is used to offset amount or same transaction against another on both side of the cashbook.
One of the items listed below will not be found in a company’s memorandum and article of assoc...
A major factor that enhanced the early development of accounting is the? ...
The concept that has much influence over asset valuation and income determination is? ...
The limitations of the receipts and payments account arise mainly because of the reliance on? ...
Profit expressed as a proportion of cost price is ...
Recurrent expenditure of government is paid from ...
Capital for a profit making organization is generated through ...
In a non-profit oriented organization, the excess of income over expenditure is ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...