Current asset
Fixed asset
Long term liability
Current liability
Tangible asset
Correct answer is C
No explanation has been provided for this answer.
Trade debts amounting to N300 were written off. Which of the following would be affected?
Purchases
Profit and losses
Creditors
Sales ledger
Trading account
Correct answer is D
No explanation has been provided for this answer.
A partner's drawing is debited to
Profit and loss appropriation account
Interest account
Loan account
Current account
Trading account
Correct answer is D
No explanation has been provided for this answer.
Which of the following is the most liquid?
Land and buildings
Cash at bank
Machinery
Goodwill
Furnitures and fittings
Correct answer is B
No explanation has been provided for this answer.
Interest on Johnson's drawing is
N500
N300
N200
N150
N100
Correct answer is B
No explanation has been provided for this answer.