43
Which of the following is an example of Personal Accounts?
- A. stock
- B. fixture
- C. equiptment
- D. rent
- E. debtors
44
Subscription in advance is an example of
- A. payment
- B. accual
- C. debtors
- D. provision
- E. reserves
45
The accounting entries required for increase in provision for doubtful debts are
- A. debit profit and loss account, credit provision for doubtful debts account
- B. credit provision for doubtful debts account; debit profit and loss account
- C. credit trading account; credit provision and doubtful debts account
- D. credit trading trading account; debit provision for doubtful debts account
- E. credit debtor's account; debit provision for doubtful debts account
46
If incorrect entries on the debit side equal other incorrect entries on the credit side, the error is that of
- A. ordinary entry
- B. omission
- C. commission
- D. compensation
- E. principle
47
Which of the following is not a debit entry on a sales ledger control account?
- A. goods sold
- B. cash received
- C. dishonoured cash
- D. payment to debtors for claim
- E. interest charges
48
The reward given to a debenture holder is called
- A. profit
- B. reserve
- C. premium
- D. dividend
- E. interest
49
Which of the following is the basis of accounting in the Civil Service?
- A. accrual
- B. cash
- C. income
- D. expenditure
- E. profit
50
Which of the following is the effect of a reduction in the provision for doubtful debts?
- A. reduction in net profit
- B. reduction in cash balance
- C. reduction in gloss profit
- D. increase in gross profit
- E. increase in net profit