Accounts - Principles of Accounts Past Questions and Answers

Gavon. Ltd. failed to record N2,000 wages. The error committed is that of

The excess of current assets over current liabilities is

Carriage inwards are

Which of the following accounts is not kept by a local government?

Use the following information to answer the given question
\(\begin{array}{c|c} \text{Rent paid 31/12/89} & N4,000\\ \text{Rent owing 1/1/89} & N500 \\ \text{Rent owing 31/12/89} & N300\end{array}\)
Rent for 1989 amounts to