A. ₦262,000 B. ₦224,000 C. ₦221,000 D. ₦176,000 Correct Answer: Option C C. ₦221,000
A. trading account B. trial balance C. balance sheet D. cash book Correct Answer: Option C C. balance sheet
A. opening stock plus purchases less closing stock B. purchases plus closing stock less opening stock C. cost of materials…
A. credit sales B. debtors cheques dishonoured C. interest on overdue account D. bad debts written off Correct Answer: Option…
A. cash paid B. discount allowed C. dishonoured cheque D. returns inward Correct Answer: Option D D. returns inward
A. accruals B. prepayments C. depreciation of fixed assets D. purchase of fixed assets Correct Answer: Option D D. purchase…
A. balance sheet B. income and expenditure account C. receipts and expenditure account D. receipts and payments account Correct Answer:…
A. an imprest system B. a statement of affairs C. a bank reconciliation statement D. a self-balancing ledger system Correct…
A. appropriation account B. trading account C. profit and loss account D. cash book Correct Answer: Option D C. profit…
A. efficient management is not disclosed B. there is no basis for comparison C. inter-period comparison is impossible D. it…