Accounts - Principles of Accounts Questions
Question 2411:
Osa started business with Le 40,000 cash. The accounting entry is debit
- A Cash account; credit capital account
- B Capital account; credit cash account
- C Purchases account; credit cash account
- D Expenses account; credit capital account
Question 2412:
Branch stock account is used to determine the
- A Net value of goods sent to branch
- B Gross profit of the branch
- C Branch credit sales
- D Branch net profit or loss
Question 2413:
The name given to a budget in public service accounting is
- A Vote
- B Subvention
- C General order
- D Estimate
Question 2414:
Which of the following is not prepared by a partnership?
- A Trading account
- B Profit and loss account
- C Income and expenditure account
- D Profit and loss appropriation account
Question 2415:
A partner who only make capital contribution but does not take part in the management of the partnership business is a/an
- A Ordinary partner
- B Limited partner
- C Dormant partner
- D Nominal partner