The value of the sales ledger control account is derived from the summation of the
Total creditors control account
Total debtors control account
All day books
Both the debtors and creditors accounts
Correct answer is B
No explanation has been provided for this answer.
The standing order is a payment instruction given by a
Customer to a fellow customer
Bank to an employee
Customer to the bank
Bank to the customers
Correct answer is C
No explanation has been provided for this answer.
Which of the following are advantages of departmental accounts?
The capital of the business can be calculated easily
Easy knowledge of the sources of funding
Encouragement of healthy rivalry among the various department
The department making the highest profit can be easily determined
Correct answer is D
No explanation has been provided for this answer.
Four broad classifications of overheads are
Production, selling, distribution and administration
Production, selling, distribution and material
Selling, distribution and material
Distribution, selling, administration and materials
Correct answer is A
No explanation has been provided for this answer.
₦6,600
₦9,300
₦4,450
₦4,850
Correct answer is B
No explanation has been provided for this answer.