A. fixed asset B. long-term liability C. current asset D. current liability Correct Answer: Option C C. current asset
A. i,ii and iii only B. ii and iii only C. ii and iv only D. iii and iv only…
A. ₦2,250 B. ₦2,160 C. ₦1,800 D. ₦1,440 Correct Answer: Option B B. ₦2,160
A. drawings B. capital C. loan D. profit Correct Answer: Option B B. capital
A. addition to fixed assets B. deduction from fixed assets C. addition to capital D. deduction from current liabilities Correct…
A. trading account B. profit and loss account C. appropriation account D. balance sheet Correct Answer: Option D D. balance…
A. accrued expense B. preliminary expense C. prepaid expense D. overhead expense Correct Answer: Option A A. accrued expense
A. D 40,000 profit B. D 4,000 profit C. D 4,000 loss D. D 40,000 loss Correct Answer: Option C…
A. principle B. original entry C. omission D. commission Correct Answer: Option D D. commission
A. a debit balance only B. a credit balance only C. a nill balance only D. both debit and credit…