Results
#1. The double entry to record the proceeds on disposal of assets is debit
#2. The Sales Ledger Control Account is also referred to as
#3. The process of entering transaction from one book to another is
#4. Which of the following is found in a Memorandum of Association?
#5. Which of the following is not a Nominal Account?
#6. Capital receipt is collected
#7. The portion of authorized capital that has been allotted to subscriber is
#8. The concept which establishes the rule for the periodic recognition of revenue as soon as it is capable of objectives
#9. Which of the following is a component of prime cost?
#10. Osa started business with Le40, 000 cash. The accounting entry is debit
#11. Factory costs excluding prime cost is
#12. Share of #3 nominal value were issued at a price of #4. The different of #1 is a
#13. Which of the following is not prepared by a partnership?
#14. When closing stock is overstated, it would reduce
#15. The term used to denote the capital of a not-for-profit making organization is
#16. A balanced sheet shows only
#17. The addition of prime cost factory overheads is
#18. Which of the following is not a real account?
#19. Which of the following is the least liquid?
#20. An example of capital gain is
#21. The equivalent of Income and Expenditure Account in a trading concern is
#22. Which of the following is not found in the personal ledger?
#23. Which of the following is not an item in the profit and loss account?
#24. A fixed asset fully written – down by a trader is now considered to be worth #5,000. The double entry required to effect this is: debit
#25. Trade discounts are given for
#26. Which of the following is an asset?
#27. Which of the following is not part of the Central Processing Unit of a computer?
#28. A loss made on the disposal of a fixed asset is debited to
#29. Which of the following is not revenue to a local government?
#30. A partner who only makes capital contribution but does not take part in the management of partnership business is a/an
#31. An underwriter for a company’s share is paid
#32. Which of the following is credited to a partnership appropriation accounts?
#33. Which of the following is NOT an accounting convention?
#34. The objectives of accounting information is to enable users to
#35. Which of the following is a Trading Account item?
#36. Which of the following is an intangible asset?
#37. Which of the following is a book of original entry?
#38. A sales Day Book is used for recording
#39. Which of the following is not the purpose of control account?
#40. Which of the following is not a source document
