An expense becomes an accrual because it
Is due for payment
Is a Profit and Loss Account item
Is a Trading Account item
Is to be paid within the next one year
Must appear in the balance sheet
Correct answer is A
No explanation has been provided for this answer.
N26,000
N230,000
N220,000
N160,000
N140,000
Correct answer is C
No explanation has been provided for this answer.
Trading Account item
Profit and Loss Account item
Appropriation Account item
Receipts and Payments Account item
Balance Sheet item
Correct answer is B
No explanation has been provided for this answer.
An expense of business to be paid for in cash
An amount of loss from trading activities
A loss in value of all business assets
An expense the amount of which is not certain
An amount set out of profit for other uses
Correct answer is E
No explanation has been provided for this answer.
Which of the following is not a personal account?
Bolaji Account
Drawings Account
P.Z. Plc Account
Cash Account
Acada Club Account
Correct answer is C
No explanation has been provided for this answer.