What rate of commission is charged by the bank issuing the credit card?

rikazzz | June 8, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: 1% to 4%

Element/s of Cost of a product are:

rikazzz | May 27, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Material, Labour and expenses

Which is a book (or printout) holding all the accounts?

rikazzz | May 25, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Ledger

A detailed record of changes of assets, liabilities, or owner’s equity is known as:

rikazzz | May 18, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: An account

The process of recording financial transactions in the journal is called:

rikazzz | May 17, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Journalizing

Assets that will be used for a number of years in the operation of a business

rikazzz | May 15, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Plant assets

Which is an unearned income?

rikazzz | May 9, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Both A & B

Information from a Trial Balance goes to all of the financial statements EXCEPT:

rikazzz | May 8, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: Statement of Cash Flows

Posting means the recording of a transaction:

rikazzz | May 8, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: On the proper side of two accounts related to that transaction.

Sale of goods to Ram for Rs. 1,000 with a credit term of 5 days is a/an:

rikazzz | May 4, 2022 | Comment
ANSWER & EXPLANATION

Correct Answer: credit transaction