Accounts - Principles of Accounts Past Questions and Answers

When goods are received from head office, head office will be credited while ____________

Changes in the profit sharing ratio may occur as a result of

I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases

The item on the credit side of purchase ledger control account includes

Given:

I. It records subscription in arrears
II. Payments of liabilities is effected
III. The account does not show if cash payment is revenue or capital expenditure
IV. It performs the same function as cash book

The features of receipts and payment account includes:

Which of the following is used to service all operations of government?