The price paid for the purchase of for the purchase of a business is
Debited to the cash account and credited to the vendor's account
Credited to the cash account and debited to the vendor's account
Credited to the business purchases account and debited to the assets account
Debited to the business purchase account and credited to the assets account
Credited to the cash account and debited to the assets account
Correct answer is B
No explanation has been provided for this answer.
Which of the following is related to debtors account?
Purchases ledger
General ledger
Norminal ledger
Sales ledger
Private ledger
Correct answer is D
No explanation has been provided for this answer.
Reccurrent expenditure of government is paid from
Reserved fund
Consolidated revenue fund
Development fund
Contigencies fund
Personal fund
Correct answer is B
No explanation has been provided for this answer.
In government imprest system the amount reimbursed is the
Actual amount spent
Amount of the float
Amount spent above the float
Balance of the float
Sum of unreceipted vouchers
Correct answer is B
No explanation has been provided for this answer.
Preliminary expenses of a limited liability company are
Fixed assets
Current assests
Fictitious assets
Fictitious liability
Current liability
Correct answer is C
No explanation has been provided for this answer.