A business which converts raw materials to finished goods prepares
Trading account and balance sheet
Profit and loss account and balance sheet
Balance sheet only
Trading profit and loss account and balance sheet
Manufacturing, trading, profit and loss account and balance sheet
Correct answer is E
No explanation has been provided for this answer.
Which of the following statements is not true of a non-profit making organization?
Income and expenditure account is prepared
Income and expenditure account excludes accruals and prepayments
Income and expenditure account excludes capital receipts and capital payments
Receipts and Payments account is a substitute for expenditure account
Correct answer is D
No explanation has been provided for this answer.
Consolidated fund
Recurrent fund
Accumulated fund
Working capital
General reserve
Correct answer is C
No explanation has been provided for this answer.
The trading account is usually headed
For the year ended............19 x 1
For............19 x 1
As.............19 x 1
As at.........19 x 1
...................19 x 1
Correct answer is A
No explanation has been provided for this answer.
i
ii
iii
i, ii and iii
i and ii
Correct answer is E
No explanation has been provided for this answer.