The rule of accounting equation requires that account payable should be placed under
Equities
Assets
Capital
Liabilities
Correct answer is D
No explanation has been provided for this answer.
In a control account, provision for bad debts is found on the
Credit side of the sales ledger control account
Debit side of the purchases ledger control account
Debit side of the sales ledger control account
Credit side of the purchases ledger control account
Correct answer is A
No explanation has been provided for this answer.
₦3,925
₦3,250
₦2,985
₦2,575
Correct answer is C
No explanation has been provided for this answer.
i, ii and iii
i and ii
i and iii
ii and iii
Correct answer is A
No explanation has been provided for this answer.
The major objectives of departmental account is to ascertain the
Materials sold in each department
Insurance premium payable on employees
Number of employees in each department
Contribution of each department to profit
Correct answer is D
No explanation has been provided for this answer.