A. debit cash book and credit drawer B. credit cash book and debit drawer C. debit cash book and credit…
A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of…
A. commercial B. manufacturing C. service D. Extractive Correct Answer: Option A - commercial Explanation Commercial farming occurs when a…
A. Cash book B. Sales day book C. Petty cash book D. Returns inwards Correct Answer: Option B - Sales…
A. nominal roll of employees B. records of number of hours worked C. effort of the employee D. Record of…
A. FIFO B. LIFO C. Average cost method D. LILA Correct Answer: Option D - LILA
₦ Balance as per cashbook 13560 Unpresented cheques 5120 Dividend received 2000 Uncredited cheque 2300 Bank charges 280 Standing order…
A. Debit profit and loss account and credit head office account B. Debit head office account and credit cash C.…
Tea and Cup are into a partnership business. Interests on drawings made by partners are at 10% per annum. Tea’s…
A. Factory overhead B. purchases C. material cost D. wages Correct Answer: Option A - Factory overhead Explanation Conversion costs are…