Discount allowed is enjoyed by
Managers
Customers
Staff of the company
Suppliers
Correct answer is B
Discount allowed is allowed by a firm to its customers when they pay their accounts quickly or promptly.
Use the following information to answer the question
The health department of Banjul Local Government incurred the following expenditure in 2020:
| Le | |
|
Construction of hospital wards |
200,000 |
|
Purchase of hospital beds |
20,000 |
|
Purchase of stationeries |
15,000 |
|
Salaries and wages |
60,000 |
|
Purchase of drugs |
50,000 |
|
Purchase of x-ray machine |
100,000 |
The capital expenditure for the year is
Le125,000
Le320,000
Le370,000
Le455,000
Correct answer is B
From the given information, the expenditures that are likely to be classified as capital expenditures are:
Construction of hospital wards: Le200,000
Purchase of hospital beds: Le20,000
Purchase of x-ray machine: Le100,000
To calculate the capital expenditure for the year, we add these amounts together:
Le200,000 + Le20,000 + Le100,000 = Le320,000
Therefore, the capital expenditure for the year is Le320,000.
Uncredited cheque
Credit transfer
Dividend
Unprecedented cheque
Correct answer is A
When starting with balanace as per cash book, unpresented cheques, dividend, credit transfers are added while uncredited cheques, bank charges, dishonoured cheuqes, standing order are substracted.
Original entry
Contract entry
Prime entry
Contra entry
Correct answer is D
Contra entry shows that cash has been withdrawn from the office and deposited in the bank or withdrawals of cash from bank for office use. Contra entries affect both cash and bank accounts.
Which of the following has the ultimate control of a company?
Board of directors
Employees
Shareholders
Management
Correct answer is C
The ultimate controller, refers to the shareholder who has the ultimate control in the company and is not controlled by anyone. This ownership structure often results in a certain level of control between the ultimate controller and the listed company.