Accounts - Principles of Accounts Questions
Question 2551:
Which of the following accounts has a credit balance?
- A Capital
- B Cash
- C Drawings
- D Premises
Question 2552:
The accounting entry to correct sales day book overcast is?
- A Debit sales account and credit debtors account
- B Debit suspense account and credit sales account
- C Debit debtors account and credit suspense account
- D Debit sales account and credit suspense account
Question 2553:
Which of the following expresses the accounting equation?
- A Capital + assets = liabilities
- B Assets - liabilities = Capital
- C Liabilities + Current Assets = Fixed assets
- D Liabilities - Capital = Current assets
Question 2554:
When the invoice of a customer is overcast, the supplier will send to him a
- A Cheque
- B Payment voucher
- C Debit note
- D Credit note
Question 2555:
Unpresented cheques are cheques_________
- A That have been recorded in the cash book but not by the bank
- B That have been received by the bank, but not recorded in the cash book
- C Returned by the bank
- D Written but not handed over to customers