A list of all credit and debit balance from the ledger accounts is
Trial balance
Profit and loss statement
Statement of affairs
Balance sheet
Correct answer is A
No explanation has been provided for this answer.
Which of the following accounts has a debit balance?
Capital reserve
Revenue reserve
Share premium
Share discount
Correct answer is D
No explanation has been provided for this answer.
How much did Olu sell goods bought at N1,000 if he sells at a margin of 20% on selling price?
N1,250
N1,200
N1,000
N250
Correct answer is B
No explanation has been provided for this answer.
Current liability
Current asset
Long-term liability
Fictitious asset
Correct answer is B
No explanation has been provided for this answer.
The double entry for increasing provision for bad debt is debit
Debtor's account, credit provision for bad debt account
Profit and loss account, credit debtor's account
Debtor's account, credit profit and loss acount
Profit and loss account, credit provision for bad debt account
Correct answer is D
No explanation has been provided for this answer.