Receipt and payments
Revenue and expenditure
Financial position
Profit or loss
Correct answer is C
No explanation has been provided for this answer.
Credited to the Income and Expenditure Account
Credit to the Receipts and Payments Account
Debited to the Income and Expenditure Account
Debited to Donation Accounts
Correct answer is A
No explanation has been provided for this answer.
N900,000
N864,000
N840,000
N180,000
Correct answer is B
No explanation has been provided for this answer.
Bank Account
Control Account
Profit and Loss Account
Statement of Affairs
Correct answer is B
No explanation has been provided for this answer.
A disadvantage of single entry system of book-keeping is that
The profit for the period is reduced
It is difficult to determine profit for the period
Total sales for the period is reduced
The owner of the firm withdraws money from the enterprise
Correct answer is B
No explanation has been provided for this answer.