Which of the following transactions is posted to the nominal ledger?
Discounts allotted to customers
Cash paid by a customer
Purchase of fixed asset for cash
Cash paid to suppliers
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a source document?
Cheque stub
Cash receipt
Invoice
Cash book
Correct answer is D
A source document is an original document that contains the details of a business transaction. That is, it contains all the information on the goods and services bought, sold, or paid for by a business.
The most common documents are:
From the options above, a cashbook is a not a source document rather, it is a book used in recording the cash transactions of a business.
Which of the following items is found in the credit column of the trial balance?
Provision for doubtful debts
Bad debts written off
Carriage inwards
Carriage outwards
Correct answer is A
No explanation has been provided for this answer.
N5,000
N2,250
N2,000
N1,750
Correct answer is D
No explanation has been provided for this answer.
Commission
Omission
Single entry
Original entry
Correct answer is C
No explanation has been provided for this answer.