₦9,000
₦2,500
₦3,000
₦1,500
Correct answer is B
\(\begin{array}{c|c} \text{Sales} & & 9000 \\ \hline \text{Stock Jan 1} & 2000 & \\ \hline \text{Purchases} & 4000 & \\ \hline \text{Carriage inwards} & 500 & 6500 \\ \hline \text{Gross profit} & & 2500 \end{array}\)
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.