The principle of double entry bookkeeping states that
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94 questionsA collection of fields relating to one logically definable unit of business information is known as
Which of the following is not a factory overhead cost?
A manufacturing account is drawn up by
The document prepared by a local/district government to present its annual estimates for a planning period is
Which of the following item is not treated in the profit and loss account?
subscription in advance is classified in the balance sheet as
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)
The concept applied in calculating the stock figure to be included in the balance sheet at the year end is
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)
Calculate the stock figure to be included in the balance sheet at the year end
Which of the following information is recorded in the returns outwards book?
The accounting concept which states that expenditure involving insignificant amounts should be regarded as expenses and not assets is
An example of input devices of a computer is
When the purchase consideration exceeds the value of business, the difference is
The accounting ratio used to measure the average number of days for which suppliers remain unpaid is
\(\begin{array}{c|c} Capital & Le\\ Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \{text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)
Profit sharing is in the ratio of capital. Bee's share of profit is
\(\begin{array}{c|c} Capital & Le\\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).
Profit sharing is in the ratio of capital. Aye;s share of profit is
\(\begin{array}{c|c} Capital & Le \\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)
Profit sharing is in the ratio of capital. The divisible profit is
Shares issued below nominal value are referred to as shares at
When shares are issued above their nominal value, the excess above the nominal value is