43
Depreciation is
- A. a charge for the wear and tear of a fixed asset
- B. the cost of replacing a fixed asset
- C. the loss incurred on the sale of a fixed asset
- D. the cost of repairs incurred on a fixed asset
- E. the increase in value of a fixed asset
44
The price paid for the purchase of for the purchase of a business is
- A. debited to the cash account and credited to the vendor's account
- B. credited to the cash account and debited to the vendor's account
- C. credited to the business purchases account and debited to the assets account
- D. debited to the business purchase account and credited to the assets account
- E. credited to the cash account and debited to the assets account
45
Which of the following is related to debtors account?
- A. purchases ledger
- B. general ledger
- C. norminal lesger
- D. sales ledger
- E. private ledger
46
Reccurrent expenditure of government is paid from
- A. reserved fund
- B. consolidated revenue fund
- C. development fund
- D. contigencies fund
- E. personal fund
47
In government imprest system the amount reimbursed is the
- A. actual amount spent
- B. amount of the float
- C. amount spent above the float
- D. balance of the float
- E. sum of unreceipted vouchers
48
Preliminary expenses of a limited liability company are
- A. fixed assets
- B. current assests
- C. fictitious assets
- D. fictitious liability
- E. current liability
49
When shares are oversubscribed, the promoter nay decide to scale down the number of shareholding when this is done, the shares are being
- A. forfrited
- B. issued at a discount
- C. issued on prorata
- D. issued at par
- E. issued at a premium