An item that would be considered a first charge against p...
An item that would be considered a first charge against profit in a company's account is
Ordinary dividend
Preference dividend
Capital reserve
General reserve
Correct answer is B
Preference dividend is a dividend that is allocated to and paid on a company's shares. If a company is unable to pay all dividends, claims to preferred dividends take precedence over claims to dividends that are paid on common basis.
Nzemaman Local Government incurred the following expenditure in the year 2015. Construction...
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\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \...
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1. Cash sales 11. Cash purchases 111. Cash discount allowed 1V. Cash payment V. Cash receipts ...