Accounts - Principles of Accounts Past Questions and Answers

Which of these is a capital expenditure warrant?

Use the information below to answer question
Goods from head office................N13,400
Returns to head office ...............N118
Rates and insurance paid .............N188
Wages paid ...........................N913
Cash remitted to head office..........N16,625
Stock at 1/1/2000.....................N1,875
Rents paid ...........................N325
Stock at 31/12/2000 ..................N1,975
Sundry expenses ......................N200
The profit realized from the trade is?

Use the information below to answer question
Goods from head office................N13,400
Returns to head office ...............N118
Rates and insurance paid .............N188
Wages paid ...........................N913
Cash remitted to head office..........N16,625
Stock at 1/1/2000.....................N1,875
Rents paid ...........................N325
Stock at 31/12/2000 ..................N1,975
Sundry expenses ......................N200
What is the total expenses?

The accounting principle that is applied to check arbitrary actions on the part of accountants is?

The accounting principle that is applied to check arbitrary actions on the part of accountants is?