by Sunday | Dec 3 | Accounting JAMB
A. cost price, selling price and fixed percentage on selling price B. cost price, selling price and fixed percentage on cost price C. cost priceand fixed percentage on cost price D. cost price and fixed percentage on selling price Correct Answer: Option B – cost...
by Sunday | Dec 3 | Accounting JAMB
A. branch supplies and branch receipts B. branch stock account and goods sent to branch accounts C. goods sent to brannch account and branch receipt account D. goods sent to branch accounts and branch supplies Correct Answer: Option B – branch stock account and...
by Sunday | Dec 3 | Accounting JAMB
A. branch stock account and credit goods sent to branch account B. branch supplies account and credit branch stock account C. branch stock account and credit purchases account D. goods sent to branch account and credit branch stock account Correct Answer: Option A...
by Sunday | Dec 3 | Accounting JAMB
A. branch stock adjustment account is in use B. the retention of branch trading account is in addition to the cost of goods sold C. goods are sent without invoice or any source documents D. goods are of a perishable nature on which a pre-determined price is...
by Sunday | Dec 3 | Accounting JAMB
A. current account B. cash account C. capital account D. realization account Correct Answer: Option C – capital account Explanation If the partnership decides to liquidate, the assets of the partnership are sold, liabilities are paid off, and any remaining cash...
by Sunday | Dec 3 | Accounting JAMB
A. contribution of each department to profit B. materials sold in each department C. insurance premium payable on employees D. number of employees in each department Correct Answer: Option A – contribution of each department to...