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A debtor who was declared insolvent was able to pay R630 of the amount owing, which represented 70% of his debt. The balance of his
A debtor who was declared insolvent was able to pay R630 of the amount owing, which represented 70% of his debt. The balance of his account must be written off. Which one of the following statements is false? Select one: a. Equity will decrease by R270. b. Debtors control will decrease by R900. C. The bank balance will increase by R630. d. The bad debt amounts to R189. When adjustments are recorded at the end of a financial year, which of the following results in an increase to the nominal account concerned? i) Accrued expenses ii) Accrued income iii) Consumable inventory iv) Prepaid expenses Select one: a. i), ii) and iii) b. i) and ii) only c. ii) and iii) only O d. i), ii), iii) and iv)
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