by Sunday | Dec 1 | Accounting JAMB
A. discount received account and credit Alaka’s account B. Alaka’s account and credit discount received account C. Saka’s account and credit discount received account D. discount allowed account and credit Alaka’s account Correct Answer: Option...
by Sunday | Dec 1 | Accounting JAMB
A. credit real accounts B. debit real accounts C. credit the ledger D. debit the ledger Correct Answer: Option C – credit the ledger Explanation For every debit entry, there must be a corresponding credit entry. Hence we credit the...
by Sunday | Dec 1 | Accounting JAMB
A. Maintenance of office machine B. Purchase of office stationery C. Carriage inwards D. Purchase of office machinery Correct Answer: Option D – Purchase of office machinery Explanation capital expenditures are money spent by a business or organization on...
by Sunday | Dec 1 | Accounting JAMB
A. nominal roll of employees B. record of number of hours worked C. effort of the employee D. record of number of dependants per employee Correct Answer: Option B – record of number of hours worked
by Sunday | Dec 1 | Accounting JAMB
A. Federation account B. Petroleum Technology Development Fund C. Central Bank Account D. Development fund Correct Answer: Option A – Federation account
by Sunday | Dec 1 | Accounting JAMB
Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each. A. #675,000 B. #975,000 C. #1,350,000 D. #1,950,000 Correct Answer: Option D –...