Uneb uce accounts 2008

Uneb uce accounts 2008

SECTION A: 20 MARKS
1. The amount of annual depreciation of a club’s furniture is
a) Debited to the Receipts and payments accounts.
b) Credited to the income and expenditure account.
c) Debited to the income and expenditure account.
d) Credited to the receipts and payments accounts.
2. Liability is the same as
a) Profit
b) Cost
c) Debt
d) Drawings