Accounts - Principles of Accounts Questions
Question 1526:
Trade debts amounting to N300 were written off. Which of the following would be affected?
- A Purchases
- B Profit and losses
- C Creditors
- D Sales ledger
- E Trading account
Question 1527:
Debenture is a
- A Current asset
- B Fixed asset
- C Long term liability
- D Current liability
- E Tangible asset
Question 1528:
Which of the following is a Revenue Income?
- A The sale proceeds of an old table
- B The sale proceeds of shares
- C Loan refund
- D Debt recovered
- E The sale proceeds of an old typewriter
Question 1529:
Which of the following is a fictitious asset?
- A Plant and mechinery
- B Prepayment
- C Preliminary expenses
- D Investment
- E Fictures and fittings
Question 1530:
Income received in advance is shown in the balance sheet as
- A Current asset
- B Intangible asset
- C Tangible asset
- D Long term liabilities
- E Current loabilities