Which of the following is an advantage of the imprest system?
Rewarding the imprest holder
Reducing the burden of petty cashier
Reimbursing the petty cashier regularly
Reducing the posting for small expenses into the main ledger
Correct answer is D
No explanation has been provided for this answer.
Business entity
Going concern
Accrual
Materiality
Correct answer is C
No explanation has been provided for this answer.
An approach for discovering missing figures in incomplete records is the use of
Cash book
Control accounts
Trading accounts
Balance sheets
Correct answer is B
No explanation has been provided for this answer.
When provision is made for doubtful doubt, the accounting entries are
Debit profit and loss account; credit provision for doubtful debt account
Debit debtors account; credit trading account
Debit profit and loss account ; credit sales account
Debit trading account; credit debtors account
Correct answer is A
No explanation has been provided for this answer.
i and ii only
i, ii and iii
ii and iii only
iii only
Correct answer is D
No explanation has been provided for this answer.