Accounts - Principles of Accounts Questions
Question 2291:
S. Sule sets aside from his private funds ₦20.000 is referred to as
- A Drawings
- B Capital
- C Loan
- D Profit
Question 2292:
An article cost N1,800 and is sold at a gross profit of 20% on selling price. What is the selling price?
- A ₦2,250
- B ₦2,160
- C ₦1,800
- D ₦1,440
Question 2293:
Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings
- A I,ii and iii only
- B Ii and iii only
- C Ii and iv only
- D Iii and iv only
Question 2294:
Prepayment is treated in the balance sheet of firm as a
- A Fixed asset
- B Long-term liability
- C Current asset
- D Current liability
Question 2295:
Which of the following is found in a Sales Ledger Account?
- A Credit purchases
- B Bill payable
- C Discount received
- D Discount allowed