A list of balance extracted from the ledger is known as
Balance sheet
Statement of affairs
Trading account
Profit and losss account
Trial balance
Correct answer is E
No explanation has been provided for this answer.
Credit sales were debited to A. Akpan instead of B. Akpan. This is an error of
Principle
Original entry
Omission
Commission
Compensation
Correct answer is D
No explanation has been provided for this answer.
The undistributed profits of a limited liability company is
Goodwill
Working capital
Net profit
Retained earnings
Net loss
Correct answer is D
No explanation has been provided for this answer.
Working capital is measured by the excess of
Current liabilities over current assets
Fixed assets over current assets
Currents assets over current liabilities
Current assets over fixed assets
Long term liabilities fixed assets
Correct answer is C
No explanation has been provided for this answer.
Which of the following is an example of Personal Accounts?
Stock
Fixture
Equipment
Rent
Debtors
Correct answer is E
No explanation has been provided for this answer.