The branch expenses paid by the head office is recorded in the books by debiting branch?

• A. bad debt account and crediting branch debtor's account
• B. expenses account and crediting bank account
• C. profit and loss account and crediting branch stock account
• D. discount allowed account and crediting branch debtors' account

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800. A provision of 2% was made for discount and 5% provision for bad and doubtful debts. Find the amount for sundry debtors after provision?

• A. N760 000
• B. N744800
• C. N744 000
• D. N784 000

Goods returned to branch by customers is recorded in the head office books be debiting?

• A. bank account and crediting branch stock account
• B. goods sent to branch account and crediting branch debtors''account
• C. branch stock account and crediting branch debtors account
• D. branch debtors' and credting cash acount

The capital contribution by the partners is treated in the?

• A. current account
• B. capital account
• C. trading account
• D. balance sheet

The source documents include?

• A. cash book
• B. petty cash book
• C. general ledger
• D. credit notes

Which of the following is mostly used in treating partners' current earnings?

• A. Savings account
• B. Current account
• C. Capital account
• D. Share capital account

If salary account is debited instead of stationary account, the error committed is that of?

• A. commission
• B. omission
• C. principle
• D. compensation

The rules which govern the internal management of a firm and its financial affairs in a partnership business is a?

• A. memorandum
• B. bye-law
• C. deed
• D. financial regulation

In the not-for-profit-making organization, the excess of income over expenditure is?

• A. deducted from the capital
• B. added to the accumulated fund
• C. added to the capital
• D. deducted from the the accumulated fund

The financial plan of the government for a year is contained in the?

• A. budget
• B. cash analysis book
• C. vote book
• D. gazette