Multiple Choice
Treatment of capital expenditure as revenue expenditure is
A) Errors of principle
B) Compensating errors
C) Errors of commission
D) Errors of omission
Correct Answer:
Verified
Correct Answer:
Verified
Q3: An expenditure incurred to derive long term
Q4: Cash discount is allowed by<br>A)Wholesaler<br>B)Debtor<br>C)Creditor<br>D)Retailer
Q5: Unearned income is a<br>A)Liability<br>B)Asset<br>C)Expense<br>D)Income
Q6: Income and expenditure account is the _
Q7: Purchase ledger contains the accounts of<br>A)Debtors<br>B)Creditors<br>C)Total purchase<br>D)All
Q9: Special journal is also called<br>A)Journal proper<br>B)Subsidiary books<br>C)Original
Q10: Transactions of a general nature which occur
Q11: Income received in advance by a business
Q12: Goods sold on credit will be entered
Q13: Debit balance of all personal accounts are