An expense becomes an accrual because it
Is due for payment
Is a Profit and Loss Account item
Is a Trading Account item
Is to be paid within the next one year
Must appear in the balance sheet
Correct answer is A
No explanation has been provided for this answer.
N26,000
N230,000
N220,000
N160,000
N140,000
Correct answer is C
No explanation has been provided for this answer.
Trading Account item
Profit and Loss Account item
Appropriation Account item
Receipts and Payments Account item
Balance Sheet item
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a personal account?
Bolaji Account
Drawings Account
P.Z. Plc Account
Cash Account
Acada Club Account
Correct answer is C
No explanation has been provided for this answer.
An item is fictitious because it
Does not exist
Is too costly
Is worthless
Cannot be sold for cash
Is bought on credit
Correct answer is A
No explanation has been provided for this answer.