Which fund is used to meet unforeseen or urgent expenditu...
Which fund is used to meet unforeseen or urgent expenditure?
General reserve fund
Consolidated Reserve Fund
Contingencies fund
Special fund
Correct answer is C
Contingencies fund: if there is an urgent and unforeseen need for expenditure for which no other provision exist, such expenses shall be deducted from the contingencies fund
In which of the following accounts is interest on partners capital found? ...
\(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\\ \text{Rent received dur...
In a single-entry accounting, purchases are ascertained using a ...
Why are adjustments in the profit and loss account necessary? ...
Branch stock adjustment account is prepared at? ...
Recurrent expenditure are expenses for the period not exceeding? ...
Preliminary expenses of a limited liability company are ...
When provision is made for doubtful doubt, the accounting entries are ...