Accounts - Principles of Accounts Questions
Question 1626:
Which of the following is a fictitious asset?
- A Preliminary expenses
- B Fixtures and fittings
- C Cash in hand
- D Land and buildings
- E Investment
Question 1627:
Expenditure incurred to maintain an asset's earning capacity is called
- A Capacity expenditure
- B Revenue expenditure
- C General expenditure
- D Tangible expenditure
- E Intangible expenditure
Question 1628:
Which of the following does not relate to a manufacturing concern?
- A Balance sheet
- B Profit and loss account
- C Ledger account
- D Cash book
- E Income and expenditure
Question 1629:
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 1630:
The chief accounting officer of Nigeria is called the
- A Auditor general
- B Chief accountant
- C Treasurer
- D Accountant general
- E Minister of finance