Accounts - Principles of Accounts Questions
Question 1536:
Which of the following errors will not allow a trial balance to agree?
- A Where a transaction is completely omitted from the books
- B Where the correct amount is entered but in the wrong account
- C Where the figure entered on one side is different from the one entered on the other side
- D Where an item is entered in the wrong class of account
- E Where the correct amount is used but each item is shown on the wrong side of the account
Question 1537:
Profit expressed as a proportion of cost price is known as
- A Grss profit
- B Profit make-up
- C Profitt margin
- D Profit percentage
- E Profit ratio
Question 1538:
Bosun bought goods worth N500 and sold it at a margin of 20% on selling price. For how much did he sell the goods?
- A N100
- B N125
- C N500
- D N600
- E N625
Question 1539:
Which of the following does not appear on the debit side of a company's profit and loss appropriation account?
- A Compny tax
- B Unappropriated surplus
- C Proposed dividend
- D Transfer to rserve
- E Interim dividend paid
Question 1540:
Which of the following is not a profit and loss appropriation account item?
- A Staff salaries
- B Interest on capital
- C Interest on money advanced by partners
- D Share of profit
- E Interest and drawings