Adaobi mistakenly entered N7000 as credit sales in Abba's account. This is?
An error of principles
A compensating error
An error of commission
An error of omission
Correct answer is C
No explanation has been provided for this answer.
Entity
Materiality
Realization
Accrual
Correct answer is B
No explanation has been provided for this answer.
Which of the following is source of document for the preparation of debtors' ledger account?
Debit note
General journal
Purchases invoice
Sales invoice
Correct answer is D
No explanation has been provided for this answer.
A major factor that enhanced the early development of accounting is the?
Industrial Revolution
Growing of trade and commerce
Development of arithmetic
Invention of writing
Correct answer is B
No explanation has been provided for this answer.
The use of a three-column cash book is determine by?
Cash discounts
Trade discounts
Cash transactions
Bank transactions
Correct answer is A
No explanation has been provided for this answer.