WEEK ONE AND TWO DATE ……………………. TOPIC: THE CASH BOOK CONTENT Types of Cash Book Single Column Cash Book Two Column Cash Book Contra Entries Bank Overdraft The Cash Book is a subsidiary book of account that is used to record the payments and receipts of money (cash or cheques) to or by a business
FINANCIAL ACCOUNTING 1. Where there is no partnership agreement the Partnership Act 1890 section should be applied (a) 20 (b) 25 (c) 24 (d) 34 3. Which of the following is not true where there is no laid down agreement for the partnership? (a) Profits and losses to be shared equally (b) No interest on
Ss 3 Financial Accounting Exams 3rd term SECTION A Goodwill is a ——- (a) current asset ( b) intangible asset( c) current liability( d)fictitious asset Vendor means the seller of the (a) business (b) asset (c) liabilities (d) capital Capital reserve is( a) current assets( b) fixed assets (c) liabilities (d) equity The double entry
FINANCIAL ACCOUNTING Edu Delight Tutors (1) Which of the following is the book of original entry for all payments and receipt whether by cash or cheque (a) Sales day book (b) Purchase day book (c) Cash book (d) journal book (2) Which of the following fixed asset is not depreciable (a) Building (b) Budding (c)
S S ACCOUNTING 1. The term “accounting period” is used to refer to the A. time span during which taxes are paid to the inland revenue board B. budget period, usually one year, relied on by the accountant C. time span, usually one year, covered by financial statement D. period within which debtors are expected