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Accounts - Principles of Accounts Past Questions

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3196

Use the following information to answer the question

 

 

 Trade creditors (31/12/2020)

 4,000
 Paid for purchases in 2021: Cheques  110,000
 Carriage inwards  1,000
 Trade creditors (31/12/2021)  6,000



The total purchase in 2021 is

  • A. $121,000
  • B. $113,000
  • C. $117,000
  • D. $111,000
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3197

Use the following information to answer the question

 

 

 $

 Trade creditors (31/12/2020)

 4,000
 Paid for purchases in 2021: Cheques  110,000
 Carriage inwards  1,000
 Trade creditors (31/12/2021)  6,000


The balance c/d on trade creditors will be recorded in the balance sheet as

  • A. current asset
  • B. short-term liability
  • C. long-term liability
  • D. fixed asset
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3198

In the final account of a limited liability company, debenture interest paid is recorded in the

  • A. capital account
  • B. profit and loss account
  • C. trading account
  • D. current account
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3199

Suppliers' personal account are found in the

  • A. private ledger
  • B. nominal ledger
  • C. purchases ledger
  • D. sales ledger
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3200

One of the internal users of accounting information is the

  • A. management
  • B. government
  • C. creditors
  • D. investors
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