A. Recurrent expenditure B. Capital expenditure C. Transfer to revenue fund D. International revenue Correct Answer: Option A - Recurrent…
A. revenue receipt B. capital receipt C. capital expenditure D. revenue expenditure Correct Answer: Option C - capital expenditure Explanation…
A. revenue expenditure B. capital expenditure C. sunk cost D. miscellanous expenses Correct Answer: Option A - revenue expenditure Explanation…
A. shareholders equity by outstanding shares B. total assets by outstanding shares C. gross profit by outstanding shares D. net…
A. trading account B. profit and loss account C. fund flow statement D. cash flow statement Correct Answer: Option B…
A company advertised and issued N750,000, 12% preference shares of N1 each to be issued at N1.50 per share. Applications…
A company advertised and issued N750,000, 12% preference shares of N1 each to be issued at N1.50 per share. Applications…
A. realization B. disposal C. dissolution D. revaluation Correct Answer: Option A - realization Explanation Realization account refers to an…
Capital balances b/d:.....P.............N20,000 ..........................K.............N10,000 Drawings:.................P.............N2, 000 ..........................K.............N1, 000 Share of profits:.........K.............N4, 000 ..........................K.............N2, 000 Salary....................P.............N1, 000 Interest on drawings:.....K.............N100 ..........................K.............N20…
Capital balances b/d:.....P.............N20,000 ..........................K.............N10,000 Drawings:.................P.............N2, 000 ..........................K.............N1, 000 Share of profits:.........K.............N4, 000 ..........................K.............N2, 000 Salary....................P.............N1, 000 Interest on drawings:.....K.............N100 ..........................K.............N20…