Commercial

Henry AjiboyeLeave a comment

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#1. The concept of Double Entry Book-keeping states that

#2. When a buyer returns damaged goods to the seller, the buyer receives a ___

#3. Which of the following is related to debtors account

#4. Which of the following is not an external user of accounting information?

#5. A delivery van was bought on credit. The transaction would be entered by the customer first in the

#6. In which of the following will trade discount be recorded

#7. Which of the following will a supplier send to a customer whose invoice was under cast

#8. A trial balance is prepared to

#9. The purchase of a typewriter for the office was debited to purchase account. This is an error of

#10. Which of the following is not book of prime entry

#11. Ajijola Enterprises bought 40 pairs of shoes at #45 each from Kabi shoe factory on credit. This transaction will first be recorded by Ajijola in the

#12. Which of the following is not found in a trial balance

#13. In a professional partnership, membership must be between

#14. Which of the following is true of trade discounts

#15. When a transaction is completely left out from the books, it is an error of

#16. Which of these is found in a general ledger

#17. Which of the following is not a subsidiary book

#18. A book keeper debited motor vehicles account of Motor expenses account. This is an error of

#19. The going concern concepts assumes that

#20. The concepts which deals with the exclusion of trivial items in the accounting record is

#21. The objective of accounting information is to enable users to

#22. Trade discounts are given for

#23. Which of the following is not a source of document

#24. The process of entering transaction from one book to another is

#25. A sales of goods to Audu was not posted. This is an error of

#26. Which of the following is not an intangible asset

#27. Which of the following is an impersonal nominal account

#28. The art of recording transaction in books of account is known as

#29. Which of the following is an impersonal nominal account

#30. Which of the following error would affect the agreement of the trial

#31. Which of the following is a real account item

#32. The sales day book is used to record

#33. Which of the following is used to record the purchase of fixed assets on credit

#34. Which of the following is both a subsidiary book and a ledger

#35. Rent receivable account is an example of

#36. Which of the following is found in the private ledger

#37. A trial balance is a list of

#38. Books of account are opened by means of a ___

#39. When both debit and credit entries of a transaction are shown in the cash book, it is described as

#40. A sales journal is used to record

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