The original record containing the details of a transaction which serves as a basis for posting is
general ledger
source document
subsidiary book
trial balance
Correct answer is C
No explanation has been provided for this answer.
₦5,480,000
₦6,480,000
₦8,480,000
₦7,380,000
Correct answer is A
No explanation has been provided for this answer.
Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit
cash and credit stationery
purchases and credit stationery
stationery and credit purchases
stationery and credit cash
Correct answer is D
No explanation has been provided for this answer.
Which of the following is a debit item in the purchase ledger control account?
Balance b/d
Cheque dishonoured
Balance c/d
Purchases
Correct answer is C
No explanation has been provided for this answer.
The interest on partner's loan is
credited in current account
debited in profit and loss account
credited in profit and loss account
debited in current account
Correct answer is B
No explanation has been provided for this answer.