Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500 N1,200 Fixtures N700 N520 Stock N500 N600 Debtors N900 N400 Cash N200…
A. Accountant General B. Auditor General C. Finance Minister D. Permanent Secretary Correct Answer: Option B - Auditor General
A. debit cash and credit branch current account B. debit branch, current account and credit cash C. credit branch, debtors…
Department F transferred some goods to department G at a selling price. The goods were not sold at the end…
X and Y are two departments that are to share 50% of all joint costs equally and the balance in…
A. Constitution of the Federal Republic of Nigeria, 1999 B. Nigeria Enterprises Promotion Decree, 1972 C. Companies and Allied Matters…
A. investment and credit cash B. investment and credit shares C. purchases and credit cash D. purchases and credit shares…
A. absorption B. merger C. conversion D. dissolution Correct Answer: Option A - absorption
A. debit of realization account B. credit of realization account C. credit of bank account D. debit of bank account…
A. N500 B. N2,000 C. N2,500 D. N3,000 Correct Answer: Option A - N500