Accounting

The fixed amount of money given to a petty cashier at the beginning of a period is called?

A. Imprest B. float C. cash advance D. cash Correct Answer: Option A - Imprest Explanation The word 'imprest' means…

5 years ago

The basic role of accounting is to?

A. detect fraud B. attest to financial statements C. measure performance D. protect shareholders Correct Answer: Option C - attest…

5 years ago

Which of the following represents the total balance of debtors before adjustment?

Kakaku limited with three departments has a total of N7,200,000 as net debtors for the year ended 31/12/2106. The company's…

5 years ago

What is the gross profit margin?

N salesĀ  20,000 cost of sales 10,000 operating expenses 2,500 expenses prepaid included in operating expenses 500 A. 100% B.…

5 years ago

Calculate the net profit.

N salesĀ  20,000 cost of sales 10,000 operating expenses 2,500 expenses prepaid included in operating expenses 500   A. N12,500…

5 years ago

The accumulated fund of a non-trading concern can equally be referred to as?

A. members equity B. share capital C. general fund D. surplus fund Correct Answer: Option C - general fund Explanation…

5 years ago

The partnership deed normally specifies?

A. how profits or losses are to be shared B. the capital to be contributed annually C. how salaries are…

5 years ago

what will be the price-earnings ratio of the company?

Earnings per share 47k Dividends per share 30k Per value of each share N1.20 market price per share NM1.50  …

5 years ago

The company’s earnings yield is?

Earnings per share 47k Dividends per share 30k Per value of each share N1.20 market price per share NM1.50  …

5 years ago

In order to make the cash book balance equal to the bank statement; it is usually to add?

A. uncredited cheques B. direct payments by bank C. bank charged D. unpresented cheques Correct Answer: Option D - unpresented…

5 years ago