Accounts - Principles of Accounts Questions
Question 1471:
A share is under-subscribed when
- A It is offered for sale at less than the nominal value
- B It is offered for sale at nominal value
- C The number of shares applied for is less than the offer
- D It is offered for sale at more thn norminal value
- E The number of shares applied for is more than the offer
Question 1472:
Mark-up on goods sent to branch offices are recorded in the books by creating
- A Stock adjustment account debiting branch stock account
- B Goods sent to branch account and debiting branch stock account
- C Branchh stock account and debiting stock adjustment account
- D Cash account and crediting branch stock account
- E Branch stock account and crediting defalcations account
Question 1473:
Cash stolen from branch-taking s is recorded in the Head Office books by debiting
- A Defalcations account and crediting branch stock acccount
- B Mark-up account and crediting branch stock account
- C Defalcations account and crediting profit and loss account
- D Cash account and crediting branch stock account
- E Branch stock account and crediting defalcations account
Question 1474:
A trial balance is a proof of accuracy of
- A Transactions
- B Final accounts
- C Double entry in the ledger
- D Trading account
- E Balance sheet
Question 1475:
The term bad debts means debts
- A Recorded in wrong account
- B Owed by an employee
- C Paid with fake currency
- D That cannot be collected
- E Owed by a supplier