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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 2491:
Excess of current assets over current liabilities is
  • A Deferred capital
  • B Nominal capital
  • C Working capial
  • D Authorized capital
View Answer & Explanation
Question 2492:
a statement showing a trader's financial position as at a particular date is an
  • A Trading account
  • B Profit and loss account
  • C Balance sheet
  • D Appropriation account
View Answer & Explanation
Question 2493:
The source document used to make entries in the purchase day book is
  • A Debt note
  • B Credit note
  • C Invoice
  • D Receipt
View Answer & Explanation
Question 2494:
The source document used to make entries in the purchase day book is
  • A Debt note
  • B Credit note
  • C Invoice
  • D Receipt
View Answer & Explanation
Question 2495:
A book that contains individual accounts of suppliers is the
  • A Purchase ledger
  • B General ledger
  • C Nominal ledger
  • D Sales ledger
View Answer & Explanation