Resources owned and controlled by a business are classifi...
Resources owned and controlled by a business are classified as
Assets
Capital
Liabilities
Drawings
Correct answer is A
Assets are the resources or properties of a business organization e.g. land and building, premises, motor van etc. It is calculated as Asset =Capital + Liabilities.
Given: General expenses account. Paid by cheque..................N671 Paid by cash..................
i) Stock of goods ii) Furniture iii)Creditors iv) Cash at bank v) Loan from the bank Find the...
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