Accounting

Which of the following is not a revenue expenditure?

A. payment of salaries B. payment for advertisement C. purchases of motor vehicle D. purchases of goods Correct Answer: Option…

6 years ago

Using the reducing balance method, the depreciation charged for the year 2003 was?

Use the following information to answer the given question Motor vehicles(at cost) 1/1/2002 ₦1,000,000 Addition to motor vehicles 1/7/2003 ₦600,000…

6 years ago

Using the straight reducing balance method, the depreciation charged for the year 2002 was?

Use the following information to answer the given question Motor vehicles(at cost) 1/1/2002 ₦1,000,000 Addition to motor vehicles 1/7/2003 ₦600,000…

6 years ago

Which of the following is not a debit item in a creditor’s control account?

A. cash paid B. returns outwards C. purchases D. discount received Correct Answer: Option C C. purchases

6 years ago

Which of the following is charged to trading account?

A. discounts allowed B. carriage outwards C. salaries D. carriage inwards Correct Answer: Option D D. carriage inwards

6 years ago

Control accounts are also known as?

A. contra accounts B. total accounts C. ledger accounts D. integral accounts Correct Answer: Option B A. contra accounts

6 years ago

A set of instruments fed into a computer for accomplishing a given task is a/an?

A. input B. programme C. output D. data Correct Answer: Option B B. programme

6 years ago

Cost of goods manufactured is?

Use the information to answer the given question. D Opening stock: raw materials 10,000 work-in-progress 16,000 Purchases of raw materials…

6 years ago

Prime cost is?

Use the information to answer the given question. D Opening stock: raw materials 10,000 work-in-progress 16,000 Purchases of raw materials…

6 years ago

Cost of raw materials consumed is?

Use the information to answer the given question. D Opening stock: raw materials 10,000 work-in-progress 16,000 Purchases of raw materials…

6 years ago