Ibrahim, a micro-business operator, sold 10 bags of sugar to Jide at a total cost of #12,000. In the book…
A. motor van and credit Akirika B. sales and credit Akrika C. motor van and credit cash D. cash and…
A. debiting the capital account B. crediting the capital account C. debiting the cash account D. crediting the cash account…
A. capital and debit liabilities B. liabilities and credit assets C. assets and credit capital D. capital and credit assets…
A. the application of professional competency B. the accuracy of postings C. the casting of financial figures D. effective preparation…
A. historical concept B. business entity concept C. periodicity concept D. materiality concept Correct Answer: Option A - historical concept…
A. cost price B. mark-up C. premium D. margin Correct Answer: Option C - premium Explanation If debentures are issued…
A. total profit and debtors balance B. general reserve and retained profit C. retained profit and fictitious assets D. total…
A. authorized by share holders B. shared among the directors C. fully subscribed D. in the share certificate Correct Answer:…
Given: Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per…