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Accounts - Principles of Accounts Past Questions

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3241

Tolu purchased a machine for #6,000 on credit. The effect is to debit.. supplier
and credit the account of the

  • A. machinery
  • B. creditor
  • C. cash
  • D. debtor
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3242

An amount paid in cash to John is Dr to John and Cr to

  • A. bank
  • B. debtors
  • C. cash
  • D. capital
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3243

A commission of #5000 to a sales manager was debited to debtors account. This is an error of

  • A. commission
  • B. principle
  • C. original entry
  • D. compensation
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3244

The following accounts have debit balances except

  • A. share premium
  • B. rents and rates
  • C. return inwards
  • D. advertising
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3245

In government accounting, money allocated to each head and sub-heads is referred to as      

  • A. allocation
  • B. imprest
  • C. vote
  • D. float
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