by Sunday | Dec 2 | Accounting JAMB
1/5/07 Purchased 100 bags of milk at #10.00k each 3/5/07 Purchased 60 bags of milk at #11.50k each 15/5/07 Issued 85 bags of milk 15/5/07 Purchased 180 bags of milk at #12.80K each 22/5/07 Issued 145 bags of milk. A. #862.50 B. #840.00 C. #806.25 D. #750.00 Correct...
by Sunday | Dec 2 | Accounting JAMB
A. Fixed assets B. Current assets C. Trademark D. Gratuity Correct Answer: Option C – Current assets Explanation Special assets are typically private business interests, properties or natural resources that can be difficult to convert directly to more liquid...
by Sunday | Dec 2 | Accounting JAMB
At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of #180,000. it is however discovered that revenue of #15,000 is recorded as expenses while expenses of #4,000 is recorded as revenue. A. #34,000 B. #30,000 C....
by Sunday | Dec 2 | Accounting JAMB
At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of #180,000. it is however discovered that revenue of #15,000 is recorded as expenses while expenses of #4,000 is recorded as revenue. A. #210,000 B. #202,000 C....
by Sunday | Dec 2 | Accounting JAMB
A. has no sufficient cash with the bank B. has no account with the bank C. does not reside in the bank’s country D. does not possess the domestic currency Correct Answer: Option A – has no sufficient cash with the bank Explanation You can’t transfer...
by Sunday | Dec 2 | Accounting JAMB
A. a bank teller B. a credit card C. a recharge card D. ATM card Correct Answer: Option D – ATM card Explanation ATM is a machine that dispenses cash or performs other banking services when an account holder inserts a bank card. For one to withdraw money from...