Unpresented cheque
Dividend
Uncredited cheque
credit transfer
Correct answer is C
Uncredited cheque have to be less when starting with balance as per cashbook not add because the cheque are yet to be credited by the bank
Salaries in arrears is treated in the balance sheet as a
Current asset
Current liability
Fixed asset
Long term liability
Correct answer is B
Current Liability: salaries in arrears fall into the category of them under the current liability because it is benefit due to outsiders but still enjoying by the organisation and can't exceed a year
One of the options below is not the source of income for non- profit organization
Entrance fees
Subscription/dues
Ordinary shares
Donations
Correct answer is C
Ordinary shares: This type of source of income is only used in profit oriented organization to generate fund the pubic so as to enable the organization make more profit at the end of a specified period
Provisional general warrant
Annual general warrant
Reserved expenditure warrant
Contingencies
Correct answer is A
Provisional general warrant is issued by minister to enable money to be released for expenditure for the early of the year before the appropriation Act is passed
I, II and IV
I & III
I, II and III
I, III and IV
Correct answer is C
I, II and III: Changes will occur in partnership is dissolved amalgamation and changes in profit or loss sharing