The amount of subscriptions accrued is reported in the balance sheet under
Fixed cost
Current asset
Long term liability
Current liability
Correct answer is B
No explanation has been provided for this answer.
Accrual accounting differs from cash accounting because it recognizes
Prepayment and cash
Cash and creditors
Cash and debtors
Debtors and creditors
Correct answer is D
No explanation has been provided for this answer.
Use the following information below to answer this question
What was the balance of cash with the petty cashier at the end of period 1?
₦450
₦300
₦50
₦200
Correct answer is C
No explanation has been provided for this answer.
Use the following information below to answer this question
How much should the petty cashier receive after period 2?
₦150
₦350
₦250
₦500
Correct answer is B
No explanation has been provided for this answer.
The rule of accounting equation requires that account payable should be placed under
Equities
Assets
Capital
Liabilities
Correct answer is D
No explanation has been provided for this answer.