A fixed amount of money set aside for petty expenses is
Imprest
Float
Receipt
Fund
Correct answer is B
No explanation has been provided for this answer.
Capital less current assets amounts to Liabilities
Assets less liabilities amount to capital
Fixed assets and current Liabilities amount to capital
Capital assets amount to liabilities
Correct answer is B
No explanation has been provided for this answer.
The art of recording transactions in books of account is known as
Debiting
Book-keeping
Auditing
Crediting
Correct answer is B
No explanation has been provided for this answer.
Which of the following has multiple uses?
Sales journal
Purchases journal
General journal
Returns outwards journal
Correct answer is C
No explanation has been provided for this answer.
The purchase of a typewriter for office use was debited to purchases Account. This is an error of
Original entry
Commission
Principle
Omission
Correct answer is C
No explanation has been provided for this answer.