Accounts - Principles of Accounts Past Questions and Answers

What is the amount of capital employed?

Advertising expenses incurred on a product in a business organization should be charged to

N	N
Capital 39,000	Land 20,000
Long Term Loan 15, 000	Building 30,000
Creditors 9,000	Stock 40,000
	Debtors 6,000
Accrued wages 5,000	Cash 8, 000
68,000	68,000

Use the information above to answer the question
: The acid test ratio in the company is___________

When goods are sent to branch at cost plus mark up, it means that the branch should sell at_____________

The office responsible for ascertaining whether all public expenditures and appropriations are in line with approved guidelines is the________