Use the following information to answer the Question
N2,220
N2,078
N1,642
N578
Correct answer is D
The cash at hand refers to the amount of money that your business has immediately available on the last day of the reporting period. Hence we have;
Income = 420 + 1800 = 2220
Expense = 42 + 100 + 1500 = 1642
2220 - 1642 = 578
The vote book in governmental accounting is used to
Register the name of voters
Control expenditure
Record government revenue
Record taxes paid
Correct answer is B
No explanation has been provided for this answer.
Deferred charges are also known as
Prepayment
Accrued expenses
Accruals
Deferred income
Correct answer is A
No explanation has been provided for this answer.
Which of the following will not make a trial balance total to agree?
Incomplete posting in the ledger accounts
Double entry for each transaction
Omission of a transaction from the ledger
Wrong entry of correct amount into different groups of accounts
Correct answer is A
No explanation has been provided for this answer.
Profit expressed as a proportion of cost price is
Gross profit
Mark-up
Margin
Profit percentage
Correct answer is B
No explanation has been provided for this answer.