A fund established for the payment of minor expenses is
Cash discount
Cash flow
Petty cash
Accumulated fund
Reserve
Correct answer is D
No explanation has been provided for this answer.
i and v
i and ii
i, ii and iii
i and iv
i, iv and v
Correct answer is C
No explanation has been provided for this answer.
When a business is purchased, the double entries required in the purchaser's book are debit,
Vendor's account and credit purchase of business account
Asset account and credit purchases of business account
Cash account and credit vendor's account
Purchase of business account
Vendor's account and credit cash account
Correct answer is E
No explanation has been provided for this answer.
Which of the following is not a cause discrepancy between cash book and bank statement balances?
Deposits in transit
Standing order
Paid cheques
Dishonoured cheque
Uncredited cheques
Correct answer is C
No explanation has been provided for this answer.
Provision for depreciation on office furniture is charged to
Capital account
Profit and loss appropriation account
Trading account
Profit and loss account
Manufacturing account
Correct answer is D
No explanation has been provided for this answer.