Jamb Accounts - Principles of Accounts Questions
Question 771:
Goods returned to branch by customers is recorded in the head office books be debiting?
- A Bank account and crediting branch stock account
- B Goods sent to branch account and crediting branch debtors''account
- C Branch stock account and crediting branch debtors account
- D Branch debtors' and credting cash acount
Question 772:
Which of the following is mostly used in treating partners' current earnings?
- A Savings account
- B Current account
- C Capital account
- D Share capital account
Question 773:
The salary of a partner is usually debited to the?
- A Sundry debtors' account
- B Appropriation account
- C Profit and loss account
- D Sundry current account
Question 774:
The rules which govern the internal management of a firm and its financial affairs in a partnership business is a?
- A Memorandum
- B Bye-law
- C Deed
- D Financial regulation
Question 775:
The interest on partners' loans is?
- A Debited in current account
- B Credited in profit and loss account
- C Debited in profit and loss account
- D Credited in current account