by Sunday | Dec 2 | Accounting JAMB
A. cost price B. fixed percentage on cost C. selling price D. invoice price Correct Answer: Option D – invoice price Explanation Invoice Price Method Branch Accounting. In branch accounting, the head office sends the goods to the branch on the invoice price...
by Sunday | Dec 2 | Accounting JAMB
A. debited to the head office current account B. debited to the branch current account C. credited to the head office current account D. credited to the branch current account Correct Answer: Option B – debited to the branch current account Explanation Goods...
by Sunday | Dec 2 | Accounting JAMB
Given: Fixtures-#30,000 Debtors-#7,000 Stock- #8,000 Creditors-#3,000 Goodwill-#10,000 A. #10,000 B. #42,000 C. #45,000 D. #52,000 Correct Answer: Option D – #52,000 Explanation 30,000 + 7000 + 8000 +10,000 = 55000 55,000 – 3000 =...
by Sunday | Dec 2 | Accounting JAMB
A. profit and loss B. revenue account C. accumulated fund D. income and expenditure account Correct Answer: Option C – accumulated fund Explanation An accumulated fund is the capital fund of a nonprofit organization. Money is directed into the accumulated fund...
by Sunday | Dec 2 | Accounting JAMB
A. expenses are shared B. gross profit is computed C. net profit is computed D. balance sheet is obtained Correct Answer: Option B – gross profit is computed Explanation The most significant advantages of departmental accounts are: Individual results of each...
by Sunday | Dec 2 | Accounting JAMB
Total production cost- #360,000 Factory overhead cost- #56,000 Selling price per unit- # 120 Production volume of 4000 units A. #416,000 B. #304,000 C. #240,000 D. #184,000 Correct Answer: Option B – #304,000 Explanation Prime cost is the direct cost of a...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.