The concept the enables a business to determine the actual profit or loss for a particular period is
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2021
Manufacturing account is prepared to determine the
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Accounting information that is useful for the intended purpose and would make a difference in decision making is
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Members of a not-for-profit making organization
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Subsidiary books of account are used to record transactions
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All cash transactions of a not-for-profit making organization are recorded in
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Use the following information to answer this question
GH¢
Gross profit 50,400
Discounts relieved 3,300
Discounts allowed 2,500
Net profit 26,500
Cost of goods sold 18…
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2021
Use the following information to answer this question
GH¢
Gross profit 50,400
Discounts relieved 3,300
Discounts allowed 2,500
Net profit 26,500
Cost of goods sold 18…
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2021
A business includes 50% mark-up on all its products. This would mean margin of
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The major source of revenue for central/federal government is
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The value of goods sent to a branch is debited to the
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The final stage of accounting process is
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Commercial activities undertaken by a social club to raise funds include
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The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the end of the month.The reimbursement required would be
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Lima paid off debt of D2,500 owed to Dongoby cash. The entries in lima's book are: debit
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The accounting principleof double entry states that
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Recurrent expenditure of a local government include
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Accounts of fixed assets are kept in the
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The type of stock recorded in the trading account of a manufacturing business is