Accounting

Preliminary expenses of a limited liability company are?

A. fixed assets B. current assets C. fictitious assets D. fictitious liability E. current liability Correct Answer: Option C -…

5 years ago

When shares are oversubscribed, the promoter may decide to scale down the number of shareholdings when this is done, the shares are being?

A. forfeited B. issued at a discount C. issued on prorata D. issued at par E. issued at a premium…

5 years ago

What is his revenue receipt?

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for N20,200 and incurred the…

5 years ago

What is his capital receipt?

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for N20,200 and incurred the…

5 years ago

What is his revenue expenditure?

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for N20,200 and incurred the…

5 years ago

What is Okon’s share of the profit?

Use the following information to answer the given question Ade N Okon N Fixed Capital 15,000 25,000 Salary per annum…

5 years ago

What is Ade’s share of the profit?

Use the following information to answer the given question Ade N Okon N Fixed Capital 15,000 25,000 Salary per annum…

5 years ago

What is the profit available for distribution?

Use the following information to answer the given question Ade N Okon N Fixed Capital 15,000 25,000 Salary per annum…

5 years ago

What is the interest on capital?

Use the following information to answer the given question Ade N Okon N Fixed Capital 15,000 25,000 Salary per annum…

5 years ago

Which of the following is not on debtor’s legal control account?

A. credit sales B. cash sales C. bills receivable D. dishonoured cheque E. cash received from customers Correct Answer: Option…

5 years ago