In which ledger is the control account prepared?
Nominal ledger
General ledger
Sales ledger
Purchases account
Correct answer is B
No explanation has been provided for this answer.
Of ordinary entry
Containing the ledgers
Found in the journal
Containing the balance sheet
Correct answer is A
No explanation has been provided for this answer.
Which of the following is a fictitious asset?
Overdraft
Cash in hand
Reserves
Preliminary expenses
Correct answer is D
No explanation has been provided for this answer.
Which of the following explains the short term solvency of a company?
Acid test ratio
Debtor to equity ratio
Net profit margin ratio
Gross profit margin ratio
Correct answer is A
No explanation has been provided for this answer.
Direct material and direct labour cost
Direct material, direct labour and direct expenses
Direct material, direct labour, direct expenses overhead
Direct material and direct expenses
Correct answer is B
No explanation has been provided for this answer.