Accounts - Principles of Accounts Questions
Question 1586:
Which of the following is not true of a trial balance?
- A List taken of the account balance in the general ledger
- B Proof of the arithmetical accuracy of the ledger postings
- C Summary of data for the preparation of financial statement
- D List of account abstracted from a subsidiary ledger to check their agreement with the related control account
- E List of balances ensuring that the accounts are correct
Question 1587:
The chief accounting officer of Nigeria is called the
- A Auditor general
- B Chief accountant
- C Treasurer
- D Accountant general
- E Minister of finance
Question 1588:
Expenses incurred but not yet paid is
- A Contigent liability
- B Current liability
- C Current asset
- D Fixed asset
- E Capiatal expenditure
Question 1589:
Which of the following does not lead to depreciation assets?
- A Wear and tear
- B Passage of time
- C Devaluation of Naira
- D Obsolescence
- E Usage
Question 1590:
Which of the following is capital expenditure?
- A Purchase of stock
- B A purchase of motor vehicles for sale
- C Subscriptionspaid
- D Extension of building
- E Repairs of generator