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The accounting concept which allows the use of a particular method for treating a transaction for a reasonable number of years is? A. consistency B. cost C. accrual D. conservatism Correct Answer: Option A A....

A decrease in the provision for doubtful debts result in? A. an increase in net profit B. a decrease in gross profit C. an increase in gross profit D. a decrease in net profit Correct Answer: Option A A. an increase in net...

The balance on the sales ledger control Account at the end of the accounting year represents total? A. trade debtors at the end of the year B. cash sales for the year C. credit sales for the year D. amount transferred from the...

Net debtors is? A. debtors less provision for bad debts B. debtors plus provision for bad debts C. debtors less prepayments D. debtors plus prepaments Correct Answer: Option A A. debtors less provision for bad...

Which of the following is correct about the cost of goods sold? A. opening stock + purchases – closing stock B. opening stock + sales + closing stock C. opening stock – purchases – closing stock D. opening...