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Rent accrued at the end of an accounting period is a
The term "set off" in control account is also called
Pending the location of an error, the difference in the Trial Balance is posted to a __
The following are causes of discrepancies between the cash book and the bank statement balances except
In government accounting, money allocated to each head and sub-heads is referred to as
The following accounts have debit balances except
A commission of #5000 to a sales manager was debited to debtors account. This is an error of
An amount paid in cash to John is Dr to John and Cr to
Tolu purchased a machine for #6,000 on credit. The effect is to debit.. supplier
and credit the account of the
The short term solvency of a company is determined with ___ ratio
A public limited liability company can get additional fund through the issue of
An example of fictitious assets is
Goods bought on credit are first entered in the
The amount by which assets exceeds liabilities is
Which of the following has the ultimate control of a company?
Factory overheads are also known as
Which of the following is not an advantage of control account?
The following was extracted from the books of MEGA COMPANY NIG. LTD
|
₦ |
|
|
Trade debtors |
350,000 |
|
Fixtures and fittings |
600,000 |
|
Cash at bank |
25,000 |
|
Cash in hand |
5,500 |
|
Trade creditors |
116,500 |
|
Bank overdraft |
7,500 |
|
Building |
950,000 |
|
Motor van |
35,000 |
The working capital of the company is
In company account, dividend payments are effected in which of the following accounts?
Income and Expenditure account is the same as the --------- of a sole trader