A. cash account and personal account B. bank account and general ledger C. discount received and discount allowed D. cash…
A. Realization concept B. Substance over form C. Conservatism D. Measurement concept Correct Answer: Option B - Substance over form
Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales…
Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales…
A. minutes of meetings B. payment vouchers C. source documents D. audit certificates Correct Answer: Option C - source documents
Capital ...................N2000 Bank ......................N1200 Purchase ..................N2500 Sales .....................N6700 Stock .....................N1300 Creditors .................N1000 Fixed assets...............N3700 Drawings ..................N? Drawings are always estimated…
A. Institute of Certified Public Accountants of Nigeria and the Institute of Cost and Management Accountants of Nigeria B. Association…
A. Interest received and unpresented cheques B. Commission and debit note C. Unpresented cheques and direct credit D. Interest received…
A. N150 B. N160 C. N240 D. N250 Correct Answer: Option C - N240
A. N3000 B. N400 C. 500 D. N600 Correct Answer: Option B - N400