A credit purchase of N200 from P. Osae was posted to the account of P. Osei. This is an error of
Principle
Commission
Omission
Original entry
Correct answer is B
No explanation has been provided for this answer.
A suspense account is used in the
Prevention of errors
Correction of errors
Detection of errors
Creation of errors
Correct answer is B
No explanation has been provided for this answer.
The claim on the assets of a business by outsiders is
Capital
Liabilities
Reserves
Provisions
Correct answer is B
No explanation has been provided for this answer.
If a petty cashier has a cash float of Le 39,000 and Le 37,500 is spent, he will be reimbursed with
Le 40,500
Le 39,000
Le 37,500
Le 1,500
Correct answer is C
No explanation has been provided for this answer.
Which of the following items will not be entered in the adjusted cash book?
Dishonoured cheques
Direct payments to bank
Uncredited cheques
Standing order payments
Correct answer is C
No explanation has been provided for this answer.