Which of the following errors will affect the trial balance total?
Posting disscount allowed to the debit side of the discount allowed account
Omission of one account from the list when extracting from the ledger
Failure to post sales of N2,000 and purchases of N2,000 from the subsidiiary ledger
Omission of sales of N3,000 and purchases of N2,000
Correct answer is C
No explanation has been provided for this answer.
Date, narration, folio, debit, and purchases
Date, narration, folio, debit and purchase
Folio, credit, date, debit and sales
Debit, credit, narration, and date
Correct answer is D
The general ledger contains the date of the transaction, a description of the details of the transactions, the debit column that shows all the debit entries, the credit column that records all the credit entries of the account.
Hence we have; date, description, debit, and credit column
Four column
Three column
Single column
Two column
Correct answer is C
No explanation has been provided for this answer.
A source document that aids the ascertainment of amount paid out of current account is the?
Teller
Cheque stub
Cheque
Teller stub
Correct answer is B
No explanation has been provided for this answer.
Which of the following is an example of intangible assets?
Trade debtors
Stock of goods
Trade creditors
Motor vehicles
Correct answer is A
No explanation has been provided for this answer.