A. interest on drawings B. proposed dividends C. interim dividends D. provision for taxation E. General reserve Correct Answer: Option…
A. sales B. gross profit or loss C. net profit or loss D. carriage outwards E. appropriated profit Correct Answer:…
A. cash account, credit sales account B. purchases account; credit cash account C. cash account; credit purchases account D. purchases…
A. all assets and liabilities B. all balances C. credit entries of the business D. debit entries of the business…
A. at discount B. at premium C. at subsidy D. on goodwill E. at a loss Correct Answer: Option B…
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on a straight-line…
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on a straight-line…
A. sales day book B. trading account C. profit and loss account D. purchases day book E. Mr. B's Account…
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on a straight-line…
A. Current asset B. liability C. capital D. fixed asset E. investment Correct Answer: Option A - Current asset