Capital less current assets amounts to Liabilities
Assets less liabilities amount to capital
Fixed assets and current Liabilities amount to capital
Capital assets amount to liabilities
Correct answer is B
No explanation has been provided for this answer.
The art of recording transactions in books of account is known as
Debiting
Book-keeping
Auditing
Crediting
Correct answer is B
No explanation has been provided for this answer.
Which of the following has multiple uses?
Sales journal
Purchases journal
General journal
Returns outwards journal
Correct answer is C
No explanation has been provided for this answer.
The purchase of a typewriter for office use was debited to purchases Account. This is an error of
Original entry
Commission
Principle
Omission
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a real account item?
Goodwill
Fixtures
Debtors
Interest
Correct answer is B
No explanation has been provided for this answer.