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. #64,000 B. #120,000 C. #360,000 D. #480,000 Correct Answer: Option B – #120,000 Explanation selling price x production volume...
by Sunday | Dec 2 | Accounting JAMB
A. departmental account B. trading account C. profit and loss account D. balance sheet Correct Answer: Option C – profit and loss account Explanation profit and loss account is an account in the books of an organization to which incomes and gains are credited...
by Sunday | Dec 2 | Accounting JAMB
A. Cheque receipts B. Dishonoured cheques C. Discount allowed D. Bills receivable Correct Answer: Option D – Bills receivable Explanation The sales ledger control account is used to monitor the amounts owed by customers to your business. it contains transactions...
by Sunday | Dec 2 | Accounting JAMB
A. sales day book B. purchasers day book C. creditors legder D. debtors ledger Correct Answer: Option C – creditors legder Explanation The Creditors Ledger accumulates information from the purchases journal. The purpose of the Creditors Ledger is to provide...
by Sunday | Dec 2 | Accounting JAMB
A. debited and debtors credited B. credited and sales returns debited C. debited and cash credited D. credited and bank credited Correct Answer: Option B – credited and sales returns debited Explanation Remember sales ledger control accounts keeps count of all...
by Sunday | Dec 2 | Accounting JAMB
A. previous prices B. current prices C. average rates D. flat rates Correct Answer: Option B – current prices Explanation LIFO is used by firms to lower their tax liabilities at the expense of an outdated inventory value as reflected on the balance...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.