by Sunday | Dec 4 | Accounting JAMB
i. Space occupied by each department. ii. Average value of stock held by each department. iii. Departmental turnover. iv. Number of articles sold by each department . A. i and ii B. i and iii C. ii and iii D. iii and iv Correct Answer: Option B – i and...
by Sunday | Dec 4 | Accounting JAMB
Given: Furniture and fittings………………N20,000 Equipment………………………….N15,000 Bank overdrafts…………………….N6, 500 Bar...
by Sunday | Dec 4 | Accounting JAMB
A. budget B. trading account C. cash book D. profit and loss account Correct Answer: Option C – cash book Explanation A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period. All cash...
by Sunday | Dec 4 | Accounting JAMB
A. LIFO B. FIFO C. Simple average D. Periodic simple average Correct Answer: Option A – LIFO
by Sunday | Dec 4 | Accounting JAMB
A. Stock, bills receivable, cash and debtors B. Stock, bill payable, cash and debtors C. Stock, bad debt, bills receivable and cash D. Stock, work-in-progress, cash and bills payable Correct Answer: Option A – Stock, bills receivable, cash and debtors...
by Sunday | Dec 4 | Accounting JAMB
Use the information below to answer questions Total current assets………………N2,000 Total fixed assets………………..N4,000 Current liabilities……………….N1,200...