Turnover...........................N120 000 Net profit before tax..............N40 000 Net profit b/f.....................N68 000 Proposed dividends: Ordinary shares....................N8 000 Preference shares..................N6 000 Corporate…
Gross earnings........................N950 000 Current liabilities...................N100 000 Operating expenses....................N350 000 10% debentures........................N400 000 Shareholder's fund....................N1300 000 Corporate tax is 30% A.…
A. 60 days B. 30 days C. 120 days D. 90 days Correct Answer: Option B - 30 days
A. deited by N100 B. credited by N100 C. credited by N1000 D. deited by N1000 Correct Answer: Option A…
A. profit and loss account B. sales account C. balance sheet D. trading account Correct Answer: Option D - trading…
Capital.....................N? Profit and loss.............N3500 Current assets..............N? Current liabilities.........N2000 fixed assets................N11000 A. N7 000 B. N6 000 C. N8 000 D.…
Capital.....................N? Profit and loss.............N3500 Current assets..............N? Current liabilities.........N2000 fixed assets................N11000 The company maintains a current ratio of 3:1. A. N95…
A. weighted average method B. simple average method C. FIFO method D. LIFO method Correct Answer: Option C - FIFO…
A. cost of goods sold B. gross profit C. manufacturing profit D. net profit Correct Answer: Option B - gross…
A. credit purchases B. net profit C. total purchases D. gross profit Correct Answer: Option A - credit purchases