Purchase of goods of N2,000 was treated as sales and ente...
Purchase of goods of N2,000 was treated as sales and entered in the sales day book and had been carried through the account as such. This error of
Principle
Omission
Reversal of entries
Original entries
Correct answer is A
No explanation has been provided for this answer.
What is the gross profit margin? ...
An advantage of using accounting ratios is that ...
What type of stock valuation would a vegetable seller adopt in valuing it's product? ...
Which of the following has multiple uses? ...
When the going concern concept is no longer applicable, the fixed assets are recorded at their ...
A sales day book is used to record ...
Find the average stock for the period ...
The document used in government accounting to shoe evidence of cash receipt and payments is the ...
Which of the following explains the short term solvency of a company? ...