The balance on the sales ledger control Account at the end if the accounting year represents total
trade debtors at the end of the year
cash sales for the year
credit sales for the year
amount transferred from the sales day book
Correct answer is A
No explanation has been provided for this answer.
debtors less provision for bad debts
debtors plus provision for bad debts
debtors less prepayments
debtors plus prepaments
Correct answer is A
No explanation has been provided for this answer.
Which of the following is correct about cost of goods sold?
opening stock + purchases - closing stock
opening stock + sales + closing stock
openig stock - purchases - closing stock
opening stock + sales + closing stock
Correct answer is A
No explanation has been provided for this answer.
Carriage outwards is charged to
Credited to the trading account
Debited to the profit and loss account
Credited to the profit and loss account
Credited to the appropriation account
Correct answer is A
No explanation has been provided for this answer.
The amount set aside out of profit for a specific purpose is
provision
reserve
depreciation
depletion
Correct answer is A
No explanation has been provided for this answer.