Email: bbcnoun@gmail.com
Whatsapp/Telegram: 08131667008


ACC757


Question: The Act governing a Bill of Exchange is ………………
Answer:  Negotiable instrument Act (1882)

Question:  …………..is the expense incurred in the process of transforming raw materials in a factory.
Answer:  Conversion cost

Question:	When a Bill is treated as dishonoured and a new bill is drawn in lieu thereof bythe drawer, the process is referred to as………………………..
Answer:  Renewal of bill


Question:	 The date at which a Bill of Exchange falls due is called…………
Answer:  Maturity date

Question: Sources of revenue for not - for - trading organizations include the following except:
Answer:  Sale of share


Question:  Under single entry system of accounting which of the following increases the capital of a given period?
Answer:  Increase in profit within the period


Question:	The bookkeeping entries required to record the commission due to the consignee is………….
Answer:   Dr consignor\'s personal account, Cr commission account

Question: Which of the following does not form part of the contents of a partnership Deed?
Answer:  None of the above

Question:	A rebate envisaged to be received from a supplier as a result of a credit purchase made now is known as…………..
Answer:  Discount receivable


Question:	Goods sent by the principal to the agent for sales purposes is referred to as………….
Answer:  Consignment






Email: bbcnoun@gmail.com
Whatsapp/Telegram: 08131667008