Accounts - Principles of Accounts Questions
Question 1726:
To realize an asset means to
- A Close its account in the ledger
- B Give it out as a collateral
- C Turn it to cash
- D Open its account in the ledger
- E Mortage it
Question 1727:
When a fixed asset is fully depreciated, its net book value is
- A Equal to its original cost
- B Twice its original cost
- C Equal to its current market value
- D The difference between its cost and market value
- E Equal to zero
Question 1728:
Goods worth N800 was stolen. The double entries are, debit,
- A Purchases account, credut trading account
- B Trading account, credit purchases account
- C Profit and loss account, credit purchases account
- D Profit and loss account, credit purchases account
- E Capital account, credit purchasses account
Question 1729:
Payment for shares in excess of amount demanded gives rise to
- A Dividend warrant
- B Revenue reserve
- C Capital reserve
- D Call-in-advance
- E Call-in-arrears
Question 1730:
Provision for discount on debtor on debtors is to be
- A Debited to profit and loss account
- B Creit to profit and loss discount
- C Debit to debtors account
- D Debited to provision for bad debts account