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. #224,950 B. #225,000 C. #324,950 D. #325,000 Correct Answer: Option B –...
by Sunday | Dec 1 | Accounting JAMB
A. cash book B. sales day book C. petty cash book D. returns inwards Correct Answer: Option B – sales day book Explanation The sales day book is a manually-maintained ledger in which is recorded the key detailed information for each individual credit sale to a...
by Sunday | Dec 1 | Accounting JAMB
July 1 – Started business with #10,500 July 31- Paid Agro machine x #6,000 owing them A. debit Agromachinex and credit cash B. debit equipment and credit Agromachinex C. credit capital and debit cash D. credit cash and debit purchases Correct Answer:...
by Sunday | Dec 1 | Accounting JAMB
July 1 – Started business with #10,500 July 31- Paid Agromachinex #6,000 owing them A. debt capital and credit cash B. credit cash and debit bank C. debit cash and credit capital D. debit purchases and credit cash Correct Answer: Option D – debit purchases...
by Sunday | Dec 1 | Accounting JAMB
A. been overdrawn B. been understand C. debit balance D. credit balance Correct Answer: Option C – debit balance
by Sunday | Dec 1 | Accounting JAMB
A. permanent records for all transactions B. analysis of accounts to trade debtors C. audited reports on the accounts of a company D. data about the employees of a company Correct Answer: Option A – permanent records for all transactions Explanation Accounting...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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