Which of the following will not make a trial balance total to agree?
Incomplete posting in the ledger accounts
Double entry for each transaction
Omission of a transaction from the ledger
Wrong entry of correct amount into different groups of accounts
Correct answer is A
No explanation has been provided for this answer.
Profit expressed as a proportion of cost price is
Gross profit
Mark-up
Margin
Profit percentage
Correct answer is B
No explanation has been provided for this answer.
Which of the following is a contra entry?
Lodgement of cheques into bank account
Lodgement of cash in hand into bank account
Withdrawal of cash for private use
Treatment of discount received in the cash book
Correct answer is B
No explanation has been provided for this answer.
N3,850
N2,900
N2,300
N2,000
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer the given question
N6,000
N3,250
N2,000
N1,250
Correct answer is D
No explanation has been provided for this answer.