by Sunday | Dec 4 | Accounting JAMB
A. realization B. disposal C. dissolution D. revaluation Correct Answer: Option A – realization Explanation Realization account refers to an account opened by the firm when it goes to dissolution to record the profit made from the sale of assets and loss...
by Sunday | Dec 4 | Accounting JAMB
Capital balances b/d:…..P………….N20,000 ……………………..K………….N10,000 Drawings:……………..P………….N2, 000...
by Sunday | Dec 4 | Accounting JAMB
Capital balances b/d:…..P………….N20,000 ……………………..K………….N10,000 Drawings:……………..P………….N2, 000...
by Sunday | Dec 4 | Accounting JAMB
A. Sule 1/3, Ahmad 1/3 and Khadija 1/3 B. Sule 1/5, Ahmad 15 and Khadija 3/5 C. Sule 2/5, Ahmad 2/5 and Khadija 1/5 D. Sule 2/5, Ahmad 1/5 and Khadija 2/5 Correct Answer: Option C – Sule 2/5, Ahmad 2/5 and Khadija 1/5 Explanation Recall that Sule and Ahmed have...
by Sunday | Dec 4 | Accounting JAMB
A. Debtors and cash in transit B. Creditors and cash in transit C. Stock and cash in transit D. Stock and prepayments Correct Answer: Option A – Debtors and cash in transit
by Sunday | Dec 4 | Accounting JAMB
A. record charges in shareholdings B. record charges in liabilities C. check the excesses of customers D. check and monitor the growth of individual branches Correct Answer: Option D – check and monitor the growth of individual branches Explanation The primary...