Accounts - Principles of Accounts Past QuestionsQuestion 241:In order to make the cash book balance equal to the bank statement, it is usual to add? A. Uncredited cheques B. Direct payments by bank C. Bank charges D. Unpresented cheques Question 242:Use the information below to answer question 4 and 5. Sales N20,000 Cost sales N10,000 Operating expenses N2,500 Expenses prepaid included in operating expenses N500 Calculate the net profit? A. N12,500 B. N10,000 C. N8,000 D. N7,500 Question 243:what is the gross profit margin? A. N100% B. N50% C. N40% D. N30% Question 244:The main objective of bookkeeping is to record economic? A. Transactions systematically for routine managerial decision-making B. Events clearly to ensure adequate checks and balances C. Events clearly to facilitate strategic managerial desicion-making D. Transaction systematically to ascertain the financial position of a business Question 245:Which of the following is an example of intangible assets? A. Trade debtors B. Stock of goods C. Trade creditors D. Motor vehicles |
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