Is kept by the treasurer, the latter is not
Deals with all receipts and payments in the year regardless of the time it relates to, the latter is for just that year
Is a T-account, the latter is not
Is not in the ledger, the latter is
Correct answer is B
No explanation has been provided for this answer.
Which of the following categories of labour cost will be classified as direct?
Accountant's salary
Factory workers' salary
Managing director's salary
Cashier's salary
Correct answer is B
No explanation has been provided for this answer.
From which of the following sources are creditors control account most likely to be posted?
Supplier's invoices
Cash disbursements journal
Subsidiary debtors ledger
Purchases journal
Correct answer is D
No explanation has been provided for this answer.
N23,000
N29,000
N36,000
N43,000
Correct answer is D
No explanation has been provided for this answer.
If a bad debt previously written off is subsequently repaid, the amount collected is recorded as an
Income in the profit and loss account
Income in the balance sheet
Additional cash in the profit and loss account
Expense in the balance sheet
Correct answer is A
No explanation has been provided for this answer.