Which of the following entries would be made for goods bought and paid for immediately? Debit
Cash account, credit sales account
Purchases account; credit cash account
Cash account; credit purchases account
Purchases account; credit sales account
Purchases account; credit goods account
Correct answer is B
No explanation has been provided for this answer.
The balance sheet is a statement showing
All assets and liabilities
All balances
Credit entries of the business
Debit entries of the business
Capital and liabilities
Correct answer is A
No explanation has been provided for this answer.
An attempt to balance the accounts
The credit balances of the accounts
List of all balances extracted from the ledger
The debit balances of the accounts
Balance sheet balances
Correct answer is C
No explanation has been provided for this answer.
Debentures issued at a price above the nominal value are said to be issued
At discount
At premium
At subsidy
On goodwill
At a loss
Correct answer is B
No explanation has been provided for this answer.
Reduced by N15,750
Increased by N15,750
Reduced by N12,000
Increased by N2,250
Reduced by N2,250
Correct answer is C
No explanation has been provided for this answer.