The principle of double entry system ensures?
Mathematical accuracy in trial balance
Balances at the bank
Increase in the assets and liabilities
Balance of cash account
Correct answer is A
No explanation has been provided for this answer.
In a trial balance, income and liabilities are?
Debited and credited respectively
Credited
Credited and debited respectively
Debited
Correct answer is B
No explanation has been provided for this answer.
The historical development of accounting reveals that it?
Deals with debit and credit of items
Is a product of financial development
Is a product of its own environment
Is an ideal subject for financial development
Correct answer is A
No explanation has been provided for this answer.
As evidence of payments to a government ministry, the revenue collectors will issue?
Treasury receipt
Receipts voucher card
Treasury card
Stores receipts voucher
Correct answer is B
A receipt voucher is a type of voucher which is typically issued by a certain business or an organization upon receiving payment in cash or check during a business transaction.
An increase in government expenditure within a year is taken care of by means of
Financial regulations
Retirement
Warrant
Supplementary estimate
Correct answer is D
Supplementary Budget / estimate is the request for additional funds by Ministries and Departments during the course of the year.