Accounting

The expenditure on a good or service which is consumed either immediately or within a current accounting government?

A. annual expenditure B. budgetary expenditure C. capital expenditure D. recurrent expenditure Correct Answer: Option D D. recurrent expenditure

6 years ago

Which of the government serves as an input, storage and output device of a computer?

A. diskette B. keyboard C. monitr D. printer Correct Answer: Option A A. diskette

6 years ago

Which of the following serves as the main Government Fund used to service all operations of the government?

A. General fund B. consolidated revenue fund C. consolidated reserve fund D. special fund Correct Answer: Option B B. consolidated…

6 years ago

The Chief accounting officer of the federation is?

A. Minister of Finance B. Auditor General C. Accountant general D. chief accountant Correct Answer: Option C C. Accountant general

6 years ago

Which of the following are correct about a limited liability company?

i. Members have power to bind the company ii. Perpetual succession iii. Certificate of incorporation iv. Wound-up on death of…

6 years ago

Issue of prospectus is an invitation to members of the public to?

A. subscribe for shares B. register a company C. redeem shares D. liquidate a company Correct Answer: Option A A.…

6 years ago

An agreement made by partners to regulate and govern their business activities is known as?

A. partnership Act B. Partnership Deed C. partnership code D. Memorandum Correct Answer: Option B B. Partnership Deed

6 years ago

Profits are recognized when goods are sold. What concept is this?

A. realization B. matching C. periodicity D. going concerned Correct Answer: Option A A. realization

6 years ago

“The Accountant thinks the investment in the books are worthless”. This is?

A. consistency concept B. objectivity concept C. conservatism concept D. money measurement concept Correct Answer: Option D D. money measurement…

6 years ago