Accounts - Principles of Accounts Questions
Question 1381:
Discount allowed is a charge to
- A Trading account
- B Balance sheet
- C Profit and loss account
- D Profit and lss appropriation account
- E Current account
Question 1382:
Which of the following is in the personal Ledger?
- A Discount allowed account
- B Interest received account
- C Cash sales account
- D Debtors account
- E Assets account
Question 1383:
Acquash has sold goods on credit and received N2,200 in cash from debtors. At the end of the previous year N500 was owed by customers. The balance outstanding this year is N300. sales for the year amounted to
- A N2,300
- B N2,200
- C N2,000
- D N1,800
- E N1,700
Question 1384:
The authorized share capital of a limited liability company is the number of shares
- A Offered for sale
- B Called up
- C Approved in the memorandum of association
- D Subscribed
- E Paid up
Question 1385:
The document evidencing a disbursement of government fund is known as
- A Bill
- B Invoice
- C Till book
- D Payment voucher
- E Local purchase order