A set of rules and procedures guiding the operations of a partnership is called partnership

Subscription in advance is treated in the balance sheet under

Items shown in the balance sheet as asset includes

a. Identify three books of account from which entries are made into control accounts

b. State two uses of control accounts

c i. List four items each which would be recorded on the debit side of:

-Purchases Ledger Control Account

c ii. List four items each which would be recorded on the debit side of:

- Sales Ledger Control Account

a. What is goodwill?

b. List four items of recurrent expenditure for a local government

c. Explain the three types of inventory in manufacturing account