Which of the following best described the path of a transaction?
Source documents to Journal to Ledger
Source documents to Ledger to Journal
Journal to Ledger to source documents
Journal to source documents to Ledger
Ledger to Joural to source documents
Correct answer is A
No explanation has been provided for this answer.
The amount of a company's profit given to a shareholder is known as
Premium
Dividend
Interest
Allotment
Warrant
Correct answer is B
No explanation has been provided for this answer.
The person who is responsible for the formation of a company is called the
Promoter
Dividend
Shareholder
Director
Subscriber
Correct answer is A
No explanation has been provided for this answer.
The amount for which a business is sold is known as
Goodwill
Capital reserve
Purchase consideration
Premium
Equity
Correct answer is C
No explanation has been provided for this answer.
An expense becomes an accrual because it
Is due for payment
Is a Profit and Loss Account item
Is a Trading Account item
Is to be paid within the next one year
Must appear in the balance sheet
Correct answer is A
No explanation has been provided for this answer.