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Accounts - Principles of Accounts Past Questions

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2986

Which of the following transactions is a revenue expenditure?

  • A. purchase of plant
  • B. purchase of a new engine
  • C. construction of office wall
  • D. purchase of fuel for vehicle
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2987

Credit notes received are source documents for.........

  • A. returns inwards journal
  • B. returns outwards journal
  • C. purchase journal
  • D. sales journal
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2988

A document forwarded to a supplier showing unsatisfactory goods is................................

  • A. debit note
  • B. credit note
  • B. invoice
  • D. waybill
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2989

The claim of a proprietor of a business entity on its assets is................

  • A. laibilities
  • B. capital
  • C. drawings
  • D. funds
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2990

The apportionment of the cost of a fixed asset to the profit and loss account is termed?

  • A. expense
  • B. depreciation
  • C. loss
  • D. appreciation
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