Which of the following is a normal account?
Machinery
Debtors
Creditors
Salaries
Goodwill
Correct answer is D
No explanation has been provided for this answer.
In a partnership goodwill is recognized when
A new partner is admitted
A partner is dormant
The business is making huge profit
The business has good customer relations
It is a limited partnership
Correct answer is A
No explanation has been provided for this answer.
An example of appropriation of profit in a company is
Salaries
Rent income
Debenture interest
Director's remuneration
Dividend
Correct answer is E
No explanation has been provided for this answer.
A Receipt and Payments Account reveals
Net profit
Surplus
Cash in hand
Gross profit
Net loss
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a capital expenditure to a local government?
Beds
Theatre equipment
Incubators
X-ray machine
Drugs
Correct answer is E
No explanation has been provided for this answer.