John: N40 Dr, cash: N40 Cr
Cash: N40 Dr, John: N40 Cr
John: N20 Dr, cash: N20 Cr
Cash: N20 Dr, John: N20 Cr
Correct answer is C
No explanation has been provided for this answer.
Credit note
Debit note
Journal voucher
Way bill
Correct answer is A
No explanation has been provided for this answer.
I, II and III only
I, II and IV only
I, III and IV only
II, III and IV only
Correct answer is C
No explanation has been provided for this answer.
Classifying accounts in the ledger
Testing arithmetical accuracies of the ledger account balances
Identifying the balance sheet items
Providing a basis for establishing the accountant's competence
Correct answer is B
No explanation has been provided for this answer.
One major advantage of ledger is that it
Is a book of original entry
Is only accessible to share holders during liquidation
Removes the need for preparing a balance sheet after each transaction
Can be used by any type of business
Correct answer is D
No explanation has been provided for this answer.