Accounts - Principles of Accounts Questions
Question 2626:
The entries for credit sales at branch where the head office keeps all records are:Debit
- A Branch stock account; credit branch debtors account
- B Branch debtors account; credit branch stock account
- C Branch debtors account; credit branch adjustment account
- D Branch adjustment account; credit branch debtors account
Question 2627:
The branch current account records
- A Head office transactions with the branch
- B Branch transactions with the head office
- C Goods sent to branch at selling price
- D Cash received from branch as sales
Question 2628:
The cost of goods returned by branch to head office is debited
- A Branch stock adjustment account
- B Goods sent to branch account
- C Branch stock account
- D Branch profit and loss account
Question 2629:
Which of the following is a source of local government revenue?
- A Excise duties
- B Market dues
- C Import duties
- D Loans and grants
Question 2630:
The transfer of money from one sub-head to another in the public sector is
- A Budgeting
- B Allocation
- C Virement
- D Vote