Accounting

When a shareholder fails to pay the calls requested from him, this situation leads to?

A. forfeiture of shares B. bonus shares C. over-subscription D. right issues Correct Answer: Option A - forfeiture of shares

5 years ago

Which of the following is not a petty cash book item? purchase of

A. machinery B. stamps C. office pins D. milk Correct Answer: Option A - machinery

5 years ago

Into how many major types can general-purpose computers be classified?

A. six B. five C. four D. three Correct Answer: Option D - three

5 years ago

A sale of goods to audu was not posted. This is an error of?

A. omission B. compensation C. commission D. principle Correct Answer: Option A - omission

5 years ago

The total share capital which a company would be allowed to issue is known as?

A. issued share capital B. authorized share capital C. working capital D. fixed capital Correct Answer: Option B - authorized…

5 years ago

The authority of the Accountant General to disburse from government fund is called?

A. estimate B. warrant C. provision D. vote Correct Answer: Option B - warrant

5 years ago

Purchases of goods from Obi had been entered in Obike’s Account. This is an error of?

A. omission B. compensation C. commission D. original entry Correct Answer: Option C - commission

5 years ago

A bond acknowledging a loan to a company under the company’s seal, bearing a fixed rate of interest is known as?

A. certificate B. agreement C. bank loan D. debenture Correct Answer: Option D - debenture

5 years ago

Recurrent expenditure of government is paid from?

A. contingencies fund B. reserve fund C. development fund D. consolidated fund Correct Answer: Option D - consolidated fund

5 years ago

Yinka bought goods worth N800.00 and sold at a margin of 20% on selling price. How much did she sell the goods?

A. N1,000 B. N960 C. N933 D. N820 Correct Answer: Option B - N960

5 years ago
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