ACCOUNT SS 2

   A suspense account is used for error of  

• items that have not yet been located for lack of sufficient data

• double posting verified in the ledger

• miscasting in trial balance

• addition corrected in ledger

Which of the following is found in the receipt and payment account  

• depreciation of fixed assets

• purchased of fixed asset

• prepayment account

• accruals

In a profession of partnership, membership must be between

• 2 and 10   

• 2 and 8

• 2 and 50

• 2 and 20

Payment for future service are 

• accruals

• prepayment

• deposits

• advances

   Which of the following is a credit item on an income and expenditure account  

• salaries

• electricity

• subscription

• bar expenses

Goodwill is A  

• a long term liability

• a current assets   

• an intangible assets

• a current liability

    A feature receipt and payment account is    

• it is a real account   

• it s a trading concern

• it is a replica of the profit and loss balance represent a surplus

• share of profit

  Which of the following is not a debit item in partners appropriation account  

• interest on capital

• salary

• share of profit

• share of loss

  Which of the following is not found in a partnership balance sheet  

• CREDITORS

• DRAWINGS 

• BANK BALANCE

• capital

    Which of the following is a debit entry in debtors control account  

• bad debts

• credit sales

• discount allowed

• return inward