Accounts - Principles of Accounts Past Questions

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896

The order of financial accounting process involves i. recording ii. presenting iii. collecting iv. analyzing

A. I, ii, iii and iv
B. ii, iii, i and iv
C. iii, i, ii and iv
D. iv, iii, ii and iv

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897

A dishonored cheque is

A. debited in cash book
B. credited in the cash book
C. double entry in the cash book
D. credited in the bank book

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898

A petty cashier received a float of GHC 84. The imprest is

A. GHC 204
B. GHC 120
C. GHC 84
D. GHC 36

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899

Which of the following is not a book of original entry?

A. cash book
B. purchases ledger returns
C. returns outwards journal
D. general journal

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900

Use the following information

\(\begin{array}{c|c} & ₦ \\ \hline \text{Net profit} & 60,000\\ \text{Total assets} & 520,000\\ \text{Current liabilities} & 150,000 \\ \text{Current assets} & 280,000 \end{array}\)
The current ratio is?

A. 1.87 : 1
B. 1 : 1.87
C. 1 : 2
D. 2 : 1

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Accounts - Principles of Accounts Past Questions

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