Accounts - Principles of Accounts Questions
Question 231:
To write off bad debt, debt?
- A Debtor's account and credit provision for bad debt
- B Bad debt account and credit debtor's account
- C Debtor's account credit bad debt
- D Provision for bad debt account and credit debtor's account
Question 232:
In order to make the cash book balance equal to the bank statement, it is usual to add?
- A Uncredited cheques
- B Direct payments by bank
- C Bank charges
- D Unpresented cheques
Question 233:
Use the information below to answer question 4 and 5.<br/>Sales N20,000<br/>Cost sales N10,000<br/>Operating expenses N2,500<br/>Expenses prepaid included <br/>in operating expenses N500<br/>Calculate the net profit?
- A N12,500
- B N10,000
- C N8,000
- D N7,500
Question 235:
The main objective of bookkeeping is to record economic?
- A Transactions systematically for routine managerial decision-making
- B Events clearly to ensure adequate checks and balances
- C Events clearly to facilitate strategic managerial desicion-making
- D Transaction systematically to ascertain the financial position of a business