The stock valuation data is important because it enables management to?
Separate debtors from creditors
Determine the cost of stock at the end of business
Determine the cost of stock at the beginning of business
Determine the total cost of goods purchased
Correct answer is B
No explanation has been provided for this answer.
Advertising expenses incurred on a product in a business organization should be charged to?
Production department
Sales department
Administration department
Purchases department
Correct answer is B
No explanation has been provided for this answer.
In a control account, provision for bad debts is found on the?
Debit side of the purchases ledger control account
Debit side of the sales ledger control account
Credit side of the purchases ledger control account
Credit side of the sales ledger control account
Correct answer is D
No explanation has been provided for this answer.
Provision for discount allowed can be recorded as debit to?
The profit and loss account and a credit to provision for discount allowed
Provision for discount allowed and a credit to the profit and loss account
Discount allowed and a credit to the profit and loss account
Expenses and a credit to customers' account
Correct answer is A
No explanation has been provided for this answer.
i and ii
i and iv
ii and iii
iii and iv
Correct answer is C
No explanation has been provided for this answer.