Patent and Trade mark are classified under
Fixed assets
Current assets
Intangible assets
Wasting assets
Investments
Correct answer is C
No explanation has been provided for this answer.
Debit plan account, credit current account
Debit current account, credit plant account
Credit plan account, credit profit and loss account
Debit profit and loss account, credit plant account
Debit plant account, credit capital account
Correct answer is E
No explanation has been provided for this answer.
Goods purchased for N92 was entered in the books as N29. This is an error of
Compensation
Omission
Commission
Principle
Original entry
Correct answer is E
No explanation has been provided for this answer.
A typewriter for office use sold for N5,000 was posted to sales account. This is an error of a
Omission
Compensation
Commission
Principle
Original entry
Correct answer is D
No explanation has been provided for this answer.
Purchase of goods for N1,000 from chukwu had been entered in Chukwura's account. This is an error of
Omission
Compensation
Commission
Principle
Original entry
Correct answer is C
No explanation has been provided for this answer.