Cash paid to creditors + closing creditors - opening creditors =
A) total purchase
B) cash purchase
C) credit purchases
D) total debtors
Correct Answer:
Verified
Q26: Opening statement of affairs is prepared to
Q27: In capital comparison method gross profit=
A)excess of
Q28: Incomplete records are maintained usually by a
A)company
B)government
C)sole
Q29: Creditors account is prepared to ascertain
A)cash purchases
B)cash
Q30: To find out credit sales which account
Q32: Bills receivable as endorsed is debited to
A)creditors
Q33: Bills payable honored during the year will
Q34: Cash paid to creditors can be calculated
Q35: Bills payable dishonored during g the year
Q36: Rent and rates are apportioned to different
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