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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 1521:
Which of the following does not belong to the group?
  • A Discount allowed
  • B Salaries and wages
  • C Sundry expenses
  • D Rates and rent
  • E Return inwards
View Answer & Explanation
Question 1522:
Interest on Johnson's drawing is
  • A N500
  • B N300
  • C N200
  • D N150
  • E N100
View Answer & Explanation
Question 1523:
Which of the following is the most liquid?
  • A Land and buildings
  • B Cash at bank
  • C Machinery
  • D Goodwill
  • E Furnitures and fittings
View Answer & Explanation
Question 1524:
Which of the following does not belong to the group?
  • A Plant and machinery
  • B Stock
  • C Goodwill
  • D Preliminary expenses
  • E Overdraft
View Answer & Explanation
Question 1525:
A partner's drawing is debited to
  • A Profit and loss appropriation account
  • B Interest account
  • C Loan account
  • D Current account
  • E Trading account
View Answer & Explanation