Refer to the Exhibit.A business writes a cheque using its overdraft balance to purchase new display shelving for its showroomWhich of the following is the dual effect?
Answer(s): A
Refer to the exhibit.The trial balance of Monchu Partnership, as at 30 June 2006, has a suspense account.Subsequent investigations revealed that:(1) A payment of $352 to Mr. Tan was posted as $325.(2) A remittance of $450 received from Arumugam was credited to Armits accounts.(3) Salaries of $12000 have not been posted from the cash book.Monchu suggested the following adjustments:The appropriate journal entries are:
Answer(s): C
A decrease in the allowances for receivables would result in:
The statement of cash flow is a primary statement.Which of the following gives the best description of the information provided to users by a statement of cash flow?
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