Accounts - Principles of Accounts Past Questions and Answers

The acid test ratio in the company is

If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rate, can remitted to the head office is

Which of the following are advantages of departmental accounts?
I. The department making the highest profit can be easily determined
II. The capital of the business can be calculated easily
III. Easy knowledge of the sources of funding
IV. Encouragement of healthy rivalry among the various departments

Public sector accounting is based on

The end result of governmental accounting procedure is to