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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 1921:
The total of the purchases day book is posted to the purchases account in the
  • A Purchases ledger
  • B General ledger
  • C Private ledger
  • D Nominal ledger
View Answer & Explanation
Question 1922:
The document authorising an officer to incur expenditure is known as
  • A Virement
  • B Budget
  • C Warrant
  • D Vote
View Answer & Explanation
Question 1923:
When shares are oversubscribed, the promoters may decide to scale down. When this is done, the shares are issued proportionately
  • A On pro-rate
  • B At discount
  • C At par
  • D At premium
View Answer & Explanation
Question 1924:
The amount for which a business is sold is
  • A Purchase consideation
  • B Premium
  • C Capital reserve
  • D Goodwill
View Answer & Explanation
Question 1925:
Into how many types can general purpose computers be classified?
  • A Three
  • B Four
  • C Five
  • D Six
View Answer & Explanation