Accounting

Chinyere agreed to make a dress for Halima with September 20;1995 as the delivery date. If the dress was not ready at that date; Halima could?Chinyere agreed to make a dress for Halima with September 20;1995 as the delivery date. If the dress was not ready at that date; Halima could?

Chinyere agreed to make a dress for Halima with September 20;1995 as the delivery date. If the dress was not ready at that date; Halima could?

A. Seize another gown from Chinyere’s shop B. Regard the contract between them as terminated C. Sue Chinyere for specific…

4 years ago
The items entered in an opening statement of affairs of an enterprise that keeps incomplete record are?The items entered in an opening statement of affairs of an enterprise that keeps incomplete record are?

The items entered in an opening statement of affairs of an enterprise that keeps incomplete record are?

A. sales income B. receipt from debtors C. fixtures and fittings D. rent paid Correct Answer: Option C - fixtures…

4 years ago
The closing control account balance is?The closing control account balance is?

The closing control account balance is?

Amin Ltd. Creditor Ledger Control Account (Extracts) Beginning control account Balance: Debit 32,000 Credit 61,000 Purchases during the year: Cash…

4 years ago
The production cost of finished goods is?The production cost of finished goods is?

The production cost of finished goods is?

Cost of raw materials consumed 300,600 Carriage inwards 6,700 Returns of raw materials 10,800 Closing stock of raw materials 100,250…

4 years ago
What is the cost of the opening raw materials?What is the cost of the opening raw materials?

What is the cost of the opening raw materials?

Cost of raw materials consumed 300,600 Carriage inwards 6,700 Returns of raw materials 10,800 Closing stock of raw materials 100,250…

4 years ago
The accounting convention which stipulates that money or goods taken from the business by the owner for personal use should be treated as deductions from capital is?The accounting convention which stipulates that money or goods taken from the business by the owner for personal use should be treated as deductions from capital is?

The accounting convention which stipulates that money or goods taken from the business by the owner for personal use should be treated as deductions from capital is?

A. cost B. prudence C. consistency D. entity Correct Answer: Option D - entity

4 years ago
If premises is to be depreciated at 10% on cost and a 5% provision is to be allowed on debtors; the total asset in the balance sheet is?If premises is to be depreciated at 10% on cost and a 5% provision is to be allowed on debtors; the total asset in the balance sheet is?

If premises is to be depreciated at 10% on cost and a 5% provision is to be allowed on debtors; the total asset in the balance sheet is?

Yahuza Enterpises Trial Balance (Extracts) as at Dec. 31, 1998. Capital Premises 90,000 21,000 Debtors 35,000 Provisions 1/1/98: Depreciation 9,000…

4 years ago
Which of the following represents the total balance of debtors before adjustment?Which of the following represents the total balance of debtors before adjustment?

Which of the following represents the total balance of debtors before adjustment?

Halal Limited with three departments has a total of N7,200,000 as net debtors for the year ended 31/12/97. The company's…

4 years ago
A major benefit derived from the reconciliation of branch and head office books is to?A major benefit derived from the reconciliation of branch and head office books is to?

A major benefit derived from the reconciliation of branch and head office books is to?

A. determine accurate returns by the branch B. ascertain the correct profit or loss on branch activities C. enable the…

4 years ago
Recurrent expenditure are expenses for the period not exceeding?Recurrent expenditure are expenses for the period not exceeding?

Recurrent expenditure are expenses for the period not exceeding?

A. 10 years B. 5 years C. 2 years D. 1 year Correct Answer: Option D - 1 year

4 years ago
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