Accounts - Principles of Accounts Past QuestionsQuestion 286:Amin Ltd. Creditor Ledger Control Account (Extracts) Beginning control account Balance: Debit 32,000 Credit 61,000 Purchases during the year: Cash 30,000 Credit 60,000 Payment to suppliers: Cash 13,000 Cheque 29,000 Debtor's contra 6,000 The closing control account balance is A. N 41,000 B. N65,000 C. N71,000 D. N77,000 Question 287:The items entered in an opening statement of affairs of an enterprise that keeps incomplete record are A. Sales income B. Receipt from debtors C. Fixtures and fittings D. Rent paid Question 288:The current growth in the volume of trading and financial dealings in Nigeria is helped by? A. Increased financial activities B. Government intervention C. Credit as a factor in business D. Payment for goods in cash Question 289:The current growth in the volume of trading and financial dealings in Nigeria is helped by? A. Increased financial activities B. Government intervention C. Credit as a factor in business D. Payment for goods in cash Question 290:Cost accounting entails the provision of information? A. For investment purposes B. For descision making C. To shareholders D. To stockholders |
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