In preparing the final accounts, the bad debt account is closed by a transfer to the
Balance sheet
Provision for bad debt account
Profit and loss account
Trading account
Correct answer is C
No explanation has been provided for this answer.
N2575
N2985
N3250
N3925
Correct answer is B
No explanation has been provided for this answer.
Acountant General
Auditor General
Finance Minister
Permanent Secretary
Correct answer is B
No explanation has been provided for this answer.
The correct entry to reflect the receipt of cash sent by a branch to a head office is
Debit cash and credit branch current account
Debit branch, current account and credit cash
Credit branch, debtors and debit cash
Credit branch current account and debit branch debtors
Correct answer is A
No explanation has been provided for this answer.
To account for expenses paid by head office on behalf of the branch, the branch should
Debit head office account and credit cash
Debit profit and loss account and credit head office account
Credit cash and debit profit and loss account
Credit profit and loss account and debit head office account
Correct answer is B
No explanation has been provided for this answer.