Calls in advance are treated in the balance sheet as_____...
Calls in advance are treated in the balance sheet as______
Current asset
Fixed asset
Current liability
Fixed liability
Correct answer is C
Calls in advance is treated as a current liability until the calls are made and the amount actually becomes payable by the shareholders
Partner's interest on capital is shown in the ...
The conversion of a partners business into a limited liability company affords the ...
Which of the following is not an input device? ...
\(\begin{array}{c|c} & N\\ \hline \text{Land and building} & 20,000\\ Stock & 5,000\\ \t...
Sales account was undercast by GH¢ 1,000. When this is corrected, both the gross profit and the...
A typewriter for office use sold for N5,000 was posted to sales account. This is an error of a ...
Gross profit is calculated in the ...
The prudence concept demands that ...
One basic assumption of the double entry theory is that it allows? ...