I, ii and iv
I, iii and vi
Iv, v and vi
Ii, iii and v
Correct answer is B
No explanation has been provided for this answer.
Selling of goods on credit to a customer
Withdrawal of goods by the proprietor for his personel use
Cheque paid directly into the bank account by a customer
Omission of purchases received from a supplier on credit
Correct answer is C
A cheque payment is recorded in the cash book when the cheque is despatched. The bank only records such a cheque when it is paid by the bank, which may be several days later. Items such as interest may appear on the bank statement but are not recorded in the cash book as the business is unaware that they have arisen.
The document from which entries are transferred to the purchases day book is the
Waybill
Credit note
Receipt
Invoice
Correct answer is D
No explanation has been provided for this answer.
Subscriptions owed by members of a club is a/an
Asset
Liability
Profit
Surplus
Correct answer is A
No explanation has been provided for this answer.
Net turnover is referred to as
Purchases
Assets
Sales
Profits
Correct answer is C
net turnover - is turnover before VAT and after trade discounts have been deducted. A company may use net turnover to measure the total volume of sales