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Journals, Ledgers, and Cash Books
If credit side of a bank account is greater than the debit side, it indicates which of the following?
Bank overdraft
Cash at bank
Bank balance
Current Asset
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Journals, Ledgers, and Cash Books
The term 2/10-n/30 implies that __________% discount will be given if the payment is made within __________ days or full amount is receivable within 30 days.
2,10
10,2
10,30
3,15
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Journals, Ledgers, and Cash Books
A cheque deposited for which the bank will not transfer any money can be known as:
Credit transfer
Dishonored cheque
The journal
Guaranteed cheque
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Journals, Ledgers, and Cash Books
Excess of debit balance over credit balance is called:
Nil balance
Debit balance
Excess balance
Credit balance
Author:
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Journals, Ledgers, and Cash Books
The journal folio is recorded in:
Ledger
Journal
Trial balance
Balance sheet
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rikazzz
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Journals, Ledgers, and Cash Books
Machinery bought on credit from Lander Ltd had to be retuned due to its unsuitability. The correct entry to record this in the accounts would be (debit and credit) is:
Machinery and Lander Ltd
Lander Ltd and Returns outwards
Returns outwards and Lander Ltd
Lander Ltd and Machinery
Author:
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Journals, Ledgers, and Cash Books
Liabilities normally show:
Debt balance
Zero balance
Credit balance
Marked balance
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rikazzz
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Journals, Ledgers, and Cash Books
The account of a supplier would be found in:
General ledger
Purchases day book
Purchases ledger
Sales day book
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Journals, Ledgers, and Cash Books
___________ will be credited if goods are given as charity.
Cash
Charity
Purchases
Sales
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
An entry in which one account is debited and another is credited is called:
Compound entry
Simple entry
Combined entry
Minor entry
Author:
rikazzz
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