The historical development of accounting reveals that it?
A
deals with debit and credit of items
B
is a product of financial development
C
is a product of its own evironmnent
D
is an ideal subject for finacial development
CORRECT OPTION:
a
2
In a trial balance, income and liabilities are?
A
debited and credited respectively
B
credited
C
credited and debited respectively
D
debited
CORRECT OPTION:
b
3
The principle of double entry system ensures?
A
mathematical accuracy in trial balance
B
balances at the bank
C
increase in the assets and liabilities
D
balance of cash account
CORRECT OPTION:
a
4
i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure