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1311
When both debit and credit entries of a transaction are shown in the cash book, it is described as
  • A. contra entry
  • B. reversal entry
  • C. double entry
  • D. single entry
View Answer & Discuss WAEC 2005
1312
The correct order of liquidity is
  • A. stock, debtors, prepayments and cash
  • B. cash, payments, debtors and stock
  • C. stock, cash, debtors and preyaments
  • D. debtors, stock, cash and prepayments
View Answer & Discuss WAEC 2005
1313
Which of the following ratios measure the ability of a firm to meet short-term obligations?
  • A. net profit margin
  • B. quick asset ratio
  • C. turnover
  • D. creditors ratio
View Answer & Discuss WAEC 2005
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1314
Which of the following is a capital reserve?
  • A. profit and loss account balance
  • B. share premium
  • C. gross profit
  • D. share discount
View Answer & Discuss WAEC 2005
1315
When shares are sold at less than the nominal value, it means they are issued at
  • A. a premium
  • B. a loss
  • C. a discount
  • D. par
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