Transactions are recorded or posted to the ledger in line...
Transactions are recorded or posted to the ledger in line with
Accounting Concept
Source document
Double Entry Principle
Data collection
Correct answer is C
The main principle of double-entry system is that for every debit there is a corresponding credit for an equal amount of money and for every credit there is a corresponding debit for an equal amount of money; i.e. for every transaction one account is debited for, the amount of transaction and the other account is also credited.
The manufacturing account is prepared to ascertain ...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
One of the objective of maintaining the account of a branch at the head office is to ...
......................... Departments ........................... &...
Dr. Sales Ledger Control Account . Cr ₦ ₦ ...
A fund established for the payment of minor expenses is ...
Profit expressed as a fraction of the selling price is known as ...