Creditors at start was N940 and purchases for the year was N4,060. During the year, cash paid to creditors was…
A. profit and losses will be shared equally B. interest not to be paid on capital C. interest on drawings…
A. purchases overstock B. cost of goods available for sale over a total of opening and closing stock C. cost…
A. fixed capital B. registered capital C. nominal capital D. paid-up capital E. working capital Correct Answer: Option E -…
A. N3,460 B. N5,620 C. N14,170 D. N16,330 E. N18,490 Correct Answer: Option C - N14,170
A. interest on loan B. salary of workers C. electricity D. salary of partner E. travelling expenses of a partner…
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the…
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the…
A. trading account B. profit and loss account C. balance sheet D. income distribution account E. appropriate account Correct Answer:…
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the…