A. N5000 B. N4000 C. N3000 D. N7000 Correct Answer: Option C - N3000
.............Total......... Dept.P.............Dept.Q ...............N...............N.................N Sales.........10000............6000..............4000 Purchases......4000............1000..............3000 Discount received.1000..........?.................. Discounts allowed..2000...........................?. Discount (allowed and received) are apportioned to the two departments on…
.............Total......... Dept.P.............Dept.Q ...............N...............N.................N Sales.........10000............6000..............4000 Purchases......4000............1000..............3000 Discount received.1000..........?.................. Discounts allowed..2000...........................?. Discount (allowed and received) are apportioned to the two departments on…
A. market value of goods produced B. prime cost of production C. indirect cost of production D. goods produced. Correct…
The partnership agreement between Abba, Baba and Kaka contains the following provision: (i) 5% interest to be paid on capital…
The partnership agreement between Abba, Baba and Kaka contains the following provision: (i) 5% interest to be paid on capital…
A. fund accounting B. commitment accounting C. cash accounting D. accrual accounting Correct Answer: Option C - cash accounting
A. used to pay all taxes due to government B. used to start a new partnership business by members who…
Given: Balance at 31st December ............N14,744m Treasury Bills issued Jan-Dec........N7124m Revenue for the year ................N6387m Expenditure .........................N8767m A. N10,000m B.…
Given: Sales ............................N195,200 Stock 1st January.................N34,000 Purchases ........................N126,000 Sales returns ....................N1,200 Purchases returns ................N2,000 A. N30,000 B. N40,000 C. 50,000…