The accounting entries required for increase in provision for doubtful debts are
Debit profit and loss account, credit provision for doubtful debts account
Credit provision for doubtful debts account; debit profit and loss account
Credit trading account; credit provision and doubtful debts account
Credit trading trading account; debit provision for doubtful debts account
Credit debtor's account; debit provision for doubtful debts account
Correct answer is A
No explanation has been provided for this answer.
Ordinary entry
Omission
Commission
Compensation
Principle
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not a debit entry on a sales ledger control account?
Goods sold
Cash received
Dishonoured cash
Payment to debtors for claim
Interest charges
Correct answer is B
No explanation has been provided for this answer.
The reward given to a debenture holder is called
Profit
Reserve
Premium
Dividend
Interest
Correct answer is E
No explanation has been provided for this answer.
Which of the following is the basis of accounting in the Civil Service?
Accrual
Cash
Income
Expenditure
Profit
Correct answer is B
No explanation has been provided for this answer.