The concept which underlines double entry bookkeeping is<...
The concept which underlines double entry bookkeeping is
Money measurement concept
Historical cost concept
Accrual concept
Duality concept
Correct answer is D
Dual aspect concept ensures the mathematical accuracy of all records. It states that there are two aspects of accounting: one debit and one credit.
A bond acknowledging a loan to a company under the company's seal, bearing a fixed rate of inter...
Which of the following is not a profit and loss appropriation account item? ...
1. Cash sales 11. Cash purchases 111. Cash discount allowed 1V. Cash payment V. Cash receipts ...
Mini Enterprises Sales Ledger as at 31/12/94 read: N Balance b/f 12750 Total credit sales 2...
Opening capital ---10,800 Drawings----------- 2,500 Trade creditors ----2,560 Trade debtors -----...
Which of the following are advantages of departmental accounts? ...
The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of ...