A reason a business is not able to keep full set of accou...
A reason a business is not able to keep full set of accounting records is that
the business does not make profit
double entry is expensive to maintain
the business is not a trading concern
double entry shows the true profit
Correct answer is B
The double entry system is comparatively an expensive way of maintaining the financial accounts. The accountants may charge a handsome amount as fees. Maintaining incomplete records consumes less time.
Which fund is used to meet unforeseen or urgent expenditure? ...
Receipts and Payment Account (Extract) &nbs...
Branch stock adjustment account is prepared at? ...
The concept that recognizes revenue at the time of sale and not only when cash is received is ...
Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,0...
A partnership on admitting a new member, revalued the business' land and building from N30,000 t...
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{...