A balance of N102 on waged account was transferred as N120. This is error of
Transposition
Omission
Principle
Original entry
Compensation
Correct answer is A
No explanation has been provided for this answer.
Which of the following belongs to the Nominal Ledger?
Creditors account
Debtors account
Salaries account
Fixtures account
Stock account
Correct answer is C
No explanation has been provided for this answer.
i
ii
iii
ii and iii
i, ii and iii
Correct answer is A
No explanation has been provided for this answer.
Which of the following should be included in the adjusted cash book?
Bank charges and commission
Cheques issued, presented and cashed
Bank deposits
Cash payments made by the firm
Opening bank overdraft
Correct answer is A
No explanation has been provided for this answer.
The balance of the pretty cash book should be
Deducted from the balance of the cash account
Shown in the balance sheet as cash-in-hand
Reconciled with the bank balance
Returned to the sales manager
Shown in the balance sheet as liability
Correct answer is B
No explanation has been provided for this answer.