The purchase of a typewriter for office use for N2,500 should be debited to
Bank accountÂ
Sales account
Cash account
Purchases account
Assets account
Correct answer is E
No explanation has been provided for this answer.
A credit note from a supplier for damaged goods would first be entered in the
Purchase day book
Sales day book
Cash book
Returns inwards book
Returns outwards book
Correct answer is E
No explanation has been provided for this answer.
The sales day book will show goods sold
For cash and credit
For cash
On credit
To wholesalers
To retailers
Correct answer is C
No explanation has been provided for this answer.
The principal of double entry book-keeping is that
Every debtor must have a creditor
Every account debited must be immediately credited
For every debit there must be a corresponding credit
For every double debit, threre must be a double credit
For every item there must be a double entry
Correct answer is C
No explanation has been provided for this answer.
i
ii
iii
i and ii
i and iii
Correct answer is D
No explanation has been provided for this answer.