Accounts - Principles of Accounts Past QuestionsQuestion 291:The main objective of accounting report is to provide information about? A. A company's shareholding B. An entity's management C. The efficacy of assets D. A company's economic resources Question 292:If liabilities amounted to N12,045, other assets N36,800and equity N26,896, the cash at hand would be? A. N2,241 B. N2,214 C. N2,141 D. N2,114 Question 293:Use the information below to answer question. Given: Fixed assets N85,600 Sales N197,000 Stock N34,300 Salaries N37,000 Purchases N127,700 Share capital N120,000 Creditors N16, 050 Motor expenses N10,500 Debtors N25,000 What is the cash balance? A. N12,095 B. N12,590 C. N12,905 D. N12,950 Question 294:Use the information below to answer question. Given: Fixed assets N85,600 Sales N197,000 Stock N34,300 Salaries N37,000 Purchases N127,700 Share capital N120,000 Creditors N16, 050 Motor expenses N10,500 Debtors N25,000 Determine the total of the trial balance? A. N335,050 B. N333,050 C. N323,050 D. N230,550 Question 295:The accuracy of journalist is checked by? A. Ensuring that debit totals equal credit totals B. Posting all journal entries to ledger accounts C. Adding all figures in the debit column D. Comparing accounts in the ledger against the journals |
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