by Sunday | Dec 5 | Accounting JAMB
A. weighted average method B. simple average method C. FIFO method D. LIFO method Correct Answer: Option C – FIFO method
by Sunday | Dec 5 | Accounting JAMB
A. cost of goods sold B. gross profit C. manufacturing profit D. net profit Correct Answer: Option B – gross profit
by Sunday | Dec 5 | Accounting JAMB
A. credit purchases B. net profit C. total purchases D. gross profit Correct Answer: Option A – credit purchases
by Sunday | Dec 5 | Accounting JAMB
Use the information below to answer questions . On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000. A. 50% B. 40% C. 30% D. 20% Correct Answer: Option D –...
by Sunday | Dec 5 | Accounting JAMB
Use the information below to answer questions . On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000. A. N11 000 B. N11 200 C. N11 400 D. N11 300 Correct Answer: Option A
by Sunday | Dec 5 | Accounting JAMB
A. stock account and credit profit and loss account B. drawings account and credit stock account C. profit and loss account and credit drawing account D. stock account and credit drawings account Correct Answer: Option B – drawings account and credit stock...