Results
#1. The accounting concept which assumes that the business will continue to be in existence into the foreseable future is
#2. The sum of money given to a petty cashier out of which small payments are made is a/an
#3. Which of the following is NOT an accounting convention?
#4. The objective of accounting information is to enable users to
#5. The balance of the sales ledger control account represent
#6. The source document used to entries in the purchases day book is
#7. An example of capital gain is
#8. Items on the left hand side of a total debtors account are debit in the
#9. The two fundamental books of account are
#10. An expense is termed an 'accrual' because it
#11. Which of the following is the reason why a shelter allows a customer cash discount
#12. In the preparation of bank reconciliation statement uncredited cheques are
#13. Rent payable Account is an example of a
#14. A fixed amount of money set aside for petty expenses is
#15. Which of the following is not found in a trial balance
#16. A trial balance is prepared to
#17. Discounts allowed to charged to
#18. The accounting equation is
#19. Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of
#20. Money received from a customer is recorded in the customer's account and bank account; the accounting concept applied is
#21. The realization concept states that
#22. Which of the following is added to the proprietor's capital
#23. Which of the following is NOT a cause of depreciation?
#24. A rent of #12,000 was paid by Taiwo to his landlord by cheque. The double entry in Taiwo’s books is
#25. The profit of a sole trader increases his
#26. Which of the following is NOT shown in the trial balance?
#27. The accounting principle that states that insignificant expenditures are not to be taken into account is the
#28. Which of the following describes a trial balance
#29. Trade discounts are given for
#30. Which of the following is not external user of accounting
#31. Which of the following is not a liability
#32. The distingushing feature between a two column and three column cash book is
#33. A temporary difference in trial balance total is kept in the
#34. A ledger is a
#35. Which of the following is credited to a partnership appropriation accounts?
#36. Financial accounting information is for
#37. The lodgement of business cash into the business bank account is an example of
#38. A sales Day Book is used for recording
#39. A debit entry in the Cash Account and a responding credit in Alieu’s Account indicate a
#40. Which of the following is a capital expenditure
