Which of the following cannot be realized?
Debtors
Creditors
Fixtures
Goodwill
Motor vehicles
Correct answer is D
No explanation has been provided for this answer.
Provision for discount on debtor on debtors is to be
Debited to profit and loss account
Credit to profit and loss discount
Debit to debtors account
Debited to provision for bad debts account
Correct answer is A
No explanation has been provided for this answer.
Payment for shares in excess of amount demanded gives rise to
Dividend warrant
Revenue reserve
Capital reserve
Call-in-advance
Call-in-arrears
Correct answer is D
No explanation has been provided for this answer.
Goods worth N800 was stolen. The double entries are debit,
Purchases account, credut trading account
Trading account, credit purchases account
Profit and loss account, credit purchases account
Profit and loss account, credit purchases account
Capital account, credit purchasses account
Correct answer is C
No explanation has been provided for this answer.
When a fixed asset is fully depreciated, its net book value is
Equal to its original cost
Twice its original cost
Equal to its current market value
The difference between its cost and market value
Equal to zero
Correct answer is E
No explanation has been provided for this answer.