Accounts - Principles of Accounts Questions
Question 2661:
The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is
- A N910
- B N650
- C N637
- D N377
- E N260
Question 2662:
Which of the following are examples of Nominal account?
- A Land and insurance
- B Cash and interest
- C Building and cash
- D Machinery and wages
- E Rent and discount
Question 2663:
A payment of N150 to a credit
- A An increase in assets only
- B A reduction of assets only
- C A reduction in assets and liabilities
- D An increase in assets and liabilities
- E A reduction in the bank account
Question 2664:
Which of the following is not charged to Manufacturing Account?
- A Raw materials
- B Factory's wages
- C Distribution expenses
- D Royalties
Question 2665:
Discount received is shown in the
- A Credit side of sales ledger balances
- B Debit side f bought ledger balances
- C Credit side of bought ledger balances
- D Debit side of sales ledger balances
- E Sales ledger balances as contra entry