The purchases of a typewriter for the office was debited to purchases account. This is an error of
Commission
Omission
Original entry
Principle
Compensation
Correct answer is D
No explanation has been provided for this answer.
Assets and liabilities amount to capital
Capital less assets amounts to liabilities
Assets less liabilities amount to capital
Capital and assets amounts to liability
Fixed assets and current liabilities amount to capital
Correct answer is C
No explanation has been provided for this answer.
In a manufacturing company, wages paid to operatives increase the value of
Turnover
Prime cost
Gross profit
Overhead cost
Correct answer is B
No explanation has been provided for this answer.
In which of the following books will trade discount be recorded?
Cash book
General ledger
Purchases day book
Invoices
Journal voucher
Correct answer is C
No explanation has been provided for this answer.
Which of the following will a supplier send to a customer whose invoice was undercast?
Invoice
Debit note
Credit note
Cheque
Payment voucher
Correct answer is B
No explanation has been provided for this answer.