Use the following information to answer the question

The following transactions relate to Osei Enterprises for the year ended 31st December 2020.

The gross profit

• A. D 39,360
• B. D 38, 620
• C. D 36,360
• D. D 39,220

A business shows total debtors’ balances of ?400,000 in its ledger at the end of its financial year. A customer owing ?40,000 is bankrupt, and there is no possibility of getting the debt paid. A further 2% of the debt is considered doubtful. What debtor’s total will be included as a current asset in the balance sheet?

• ?400,000
• B) ?352,800
• C) ?352,000
• D) ?436,200

In a departmental account, the expenses to be apportioned on the basis of turnover is

• A. carriage inwards
• B. returns outwards
• C. discount received
• D. carriage outwards

Capital for a profit making organization is generated through

• A. gift
• B. donation
• C. shares
• D. subscription

Which of the following branches of accounting was first developed?

• A. Cost accounting
• B. Financial accounting
• C. Management accounting
• D. Petroleum accounting

Final accounts of a company refers to:

• A) Trading and profit and loss account
• B) Profit and loss account and balance sheet
• C) Trading account and balance sheet
• D) Trading , profit and loss account and balance sheet

What is the capital at start?

• A. N53 000
• B. N63 000
• C. N73 000
• D. N83 000

A cheque of #5,000 paid to Sulieman had been correctly entered in the cash book but had not been entered in Sulieman's account. To correct this error, debit Sulieman's account and credit

• A. cash account
• B. bank account
• C. suspense account
• D. purchases account

A part of public company's profit belonging to the shareholders is

• A. right issue
• B. bonus
• C. dividends
• D. public issue

Which of the following items is a tangible asset?

• A. Copyright
• B. Machinery
• C. Goodwill
• D. Lease