1. Sales journal must contain the following: * A) Date, Name and Address of Buyer, Sales Invoice or OR No. B) Name and Address of Buyer, Sales Exempted and RDO Number C) Total Invoice Amount, VAT Output Tax, and Date of when the amount is to be remitted to BIR D) None of the above.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Sales journal must contain the following: *
A) Date, Name and Address of Buyer, Sales Invoice or OR No.
B) Name and Address of Buyer, Sales Exempted and RDO Number
C) Total Invoice Amount, VAT Output Tax, and Date of when the amount is to be remitted to BIR
D) None of the above.
2. Included in non-deductible interest expense are: *
A) Interest paid in advance
B) Interest treated as capital expenditures
C) Interest on amortization
D) All of the above
3. These are the data included in the Purchase Journal *
A) Name and Address of Supplier, Date, Total Invoice Amount
B) Name and Address of Buyer, Date, Total Invoice Amount
C) Name and Address of Supplier, Date, VAT Output tax
D) Name and Address of Supplier, Date, Delivery Receipt
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