Eze introduces his private car into his business. The aspect of the accounting equation of the business that would be affected are
A. Assets and Capital B. Capital and Profit C. Liabilities and Assets D. Capital and Liabilities Correct Answer: Option A = Assets and Capital
The accounting concept which distinguishes an enterprise from its owners is?
A. money measurement B. dual aspect concept C. going concern concept D. business entity concept Correct Answer: Option D – business entity concept
A trader adds 25% on cost as profit. The profit on sales of $300000 would be
A. $75,000 B. $60,000 C. $50,000 D. $20,000 Correct Answer: Option A = $75,000
The purpose of preparing a trading account is to ascertain
A. average stock B. gross profit C. cost of goods sold D. cost of goods available for sale Correct Answer: Option B – gross profit
Recognition of profit when goods are sold and the buyer takes ownership of them is in line with
A. realization concept B. matching concept C. business entity concept D. going concern concept Correct Answer: Option A – realization conceptProducts
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Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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Rights in Community Land and Fundamental Land Concepts in Nigeria
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Customary Land Control and the Origins of Nigeria's Land Use Act
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Land Ownership Principles and Transaction Laws in Nigeria
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