The loss of equipment in a fire disaster results in?
A decrease in current assets
An increase in liabiities and assets
A decrease in assets and capital
An increase in liabilities and a decrease in assets
Correct answer is C
No explanation has been provided for this answer.
The accounting principle that is applied to check arbitrary actions on the part of accountants is?
Consistency
Materiality
Objectivity
Realization
Correct answer is A
No explanation has been provided for this answer.
N300
N1050
N1200
N1950
Correct answer is C
No explanation has been provided for this answer.
Gross profit in the branch adjustment account is transferred to the branch?
Trading account
Receipts and payments account
Profit and loss account
Income and expenditure account
Correct answer is C
No explanation has been provided for this answer.
The amount of each invoiced goods sent to the branch is debited to?
Branch expense account and credited to branch debtors' account
Branch stock account account and credited to the goods sent to branch account
Branch debtors' account and credited to branch expense account
Goods sent to branch expense account
Correct answer is B
No explanation has been provided for this answer.