43
Mr. B sod goods worth N200 on credit to Mr. C. The credit sales should be entered into
- A. sales day book
- B. trading account
- C. profit and loss account
- D. purchases day book
- E. Mr. B's Account
44
Mr. B sod goods worth N200 on credit to Mr. C. Mr. B should debit this to
- A. profit and loss account
- B. manufacturing account
- C. sales account
- D. Mr. C's account
- E. Mr. B's account
45
Payment is shown in the Balance Sheet as
- A. Current asset
- B. liability
- C. capital
- D. fixed asset
- E. investment
46
Which of the following fixed assets is not depreciable?
- A. building
- B. tools
- C. land
- D. Motor van
- E. Furniture
47
A sales journal is used to record
- A. sales expenses
- B. cash sales
- C. credit sales
- D. sales return
- E. sales commission
48
Which of the following is not a cause for the difference between bank statement balance and cash book balance?
- A. bank charges
- B. presented cheque
- C. direct transfer
- D. standing order
- E. uncredited logements
49
Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?
- A. sales day book
- B. purchases day book
- C. cash book
- D. cheque book
- E. journal book