43
The basis of accounting which eliminates debtors and creditors is
- A. cash basis
- B. accral basis
- C. fund basis
- D. commitment basis
44
A sales ledger contains
- A. creditors' accounts
- B. nominal accounts
- C. real acounts
- D. debtors' accounts
45
A book that contains the account for the financial transactions of an organizations is the
- A. journal
- B. ledger
- C. folio
- D. register
46
Public sector accounting is practiced in
- A. public limited companies
- B. government organization
- C. profit making organization
- D. public trainging company
47
A system where a separate cash book is maintained for small payments is
- A. single entry
- B. imprest
- C. float
- D. reimbursement
48
The depreciation method in which the number of years of the useful life of an asset is allocated in a reverse order is
- A. straight line
- B. reducing balance
- C. sum of the yeara; digits
- D. revaluation
49
The art of collecting, recording, presenting and interpreting accounting data is
- A. cost accounting
- B. management accounting
- C. financial accounting
- D. data processing