Accounts - Principles of Accounts Questions
Question 2721:
When a sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as ____
- A Uncredited cheques
- B Dishonoured cheques
- C Direct remittance to the bank.
- D Unpresented cheques.
Question 2722:
Which of the following is not a data processing method?
- A Manual
- B Mechanical
- C Electronic
- D Formatting
Question 2723:
Fatima withdraws goods from the business for personal use. The accounting treatment is to debit ____
- A Stock account and credit profit and loss account
- B Drawings account and credit stock account
- C Profit and loss account and credit drawings account
- D Stock account and credit drawings account
Question 2724:
Given ₦ - Net Profit ₦25,000, Cost of sales ₦25,000, Sales ₦85,000. Determine the total expenses.
- A ₦45,000
- B ₦35,000
- C ₦25,000
- D ₦15,000
Question 2725:
The objective of a trading account is to establish the ____
- A Cost of goods sold
- B Gross profit
- C Manufacturing profit
- D Net profit