The source document used to make entries in the purchase day book is

A book that contains individual accounts of suppliers is the

In the operation of an imprest of petty cash, the

An example of a credit entry in a profit and loss account is

Which of the following subsidiary books involves cash movements?

The accounting treatment for a dishonored cheque is; debit

Net turnover is referred to as

Which of the following transactions will result in disagreement between the cash book and the bank statements?

Purchase account is overcast by ₦200, while wages account is undercast by ₦200. This is

Which of the following is used to record the disposal of a fixed asset?

An error of principle is made, if

Which of the following is entered in the general journal?

Us the following information to answer the question given.

\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000 \\ \text{Residual value} & ₦5,000 \\ \text{Estimated useful lifespan 10 years} & \end{array}\).
The business make use of the straight line method for providing depreciation, the annual depreciation is

Use the information to answer the question given.

\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000\\ \text{Residual value} & ₦5,000 \\ \text{Estimated useful lifespan 10 years} & \end{array}\).
The business make use of the straight line method for providing depreciation, the accumulated depreciation as at 31/12/2013 is

The purchase of ten ceiling fans by Akpan Electronic Enterprises will be recorded as

Which of the following accounts would appear in the nominal ledger? i. Sanison's account(a debtor) ii. Motor vehicle account iii. Sales account iv. Rent and rates account

Net profit in a business is

which of the following is not an administrative expenses in a manufacturing organization?

Which of the following items is not contained in the Receipts and Payments Account?

The accounting concept underlying the treatment of personal expenses of the business owner as drawing is

The sum of direct cost in a manufacturing account is

When an asset is sold, the entries for the accumulated depreciation are; debit

A petty cash account has an imprest of D28,000. The account has a debit balance of D5,000. How much cash is needed to restore the imprest?

In a not-for-profit making organization, when the total income is less than the total expenditure, the difference is a

The concept that states that a business should not lay claim to any profits before it is earned with reasonable certainty is

When shares are issued above their nominal value, the excess above the nominal value is

Shares issued below nominal value are referred to as shares at

Use the following information to answer the question given.

\(\begin{array}{c|c} Capital & Le \\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)
Profit sharing is in the ratio of capital. The divisible profit is

Use the following information to answer the question given.

\(\begin{array}{c|c} Capital & Le\\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).
Profit sharing is in the ratio of capital. Aye;s share of profit is

Use the following information to answer the question given.

\(\begin{array}{c|c} Capital & Le\\ Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \{text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)
Profit sharing is in the ratio of capital. Bee's share of profit is

The accounting ratio used to measure the average number of days for which suppliers remain unpaid is

When the purchase consideration exceeds the value of business, the difference is

The primary classification of government expenditure is based on

An example of input devices of a computer is

The accounting concept which states that expenditure involving insignificant amounts should be regarded as expenses and not assets is

Which of the following information is recorded in the returns outwards book?

Use the information to answer the question given.

\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)

Calculate the stock figure to be included in the balance sheet at the year end

Use the information to answer the question given.

\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)

The concept applied in calculating the stock figure to be included in the balance sheet at the year end is

subscription in advance is classified in the balance sheet as

Which of the following item is not treated in the profit and loss account?