Jamb Accounts - Principles of Accounts Questions
Question 441:
The loss of equipment in a fire disaster results in?
- A A decrease in current assets
- B An increase in liabiities and assets
- C A decrease in assets and capital
- D An increase in liabilities and a decrease in assets
Question 442:
A source document is used for verifying the?
- A Amount due to creditors
- B Actual cost of an asset
- C Selling price of goods
- D Amount due from debtors
Question 443:
The rule of accounting equation requires that account payable should be placed under?
- A Liabilities
- B Equities
- C Assets
- D Capital
Question 444:
A debit in the suspense accounting will appear in the balance sheet as?
- A A current asset
- B A current lability
- C Capital
- D Drawings