A. special trust fund B. agency fund C. national loan fund D. contingency fund Correct Answer: Option D - contingency fund
(i) Meet growth and diversification need. (ii) Reach out to particular customers or markets (iii) Comply with some regulatory directives…
A. Public Accounts Committee B. Public Audit Committee C. Internal Audit Committee D. External Audit Committee Correct Answer: Option A…
A. purchases B. opening stock C. closing stock D. average stock Correct Answer: Option B - opening stock
Yola Social Club Statement of Account 1998 financial year 31/12/98: Subscription in arrears N21,000 Subscription in advance N12,000 Receipt during…
Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General indirect expenses N726 lubricants N1235 Carriage…
Given: cash book item: Paid to suppliers N10,800 Expenses paid N6,900 Drawings made N900 Balances at start N15,750 Balances at…
A. purchase consideration equals goodwill B. purchase consideration equals net value C. purchase consideration is greater than the net value…
Rakiya and Joy are in partnership and agreed that 5% interest per annul is to be charged on drawings. The…
Rakiya and Joy are in partnership and agreed that 5% interest per annul is to be charged on drawings. The…