by Sunday | Dec 3 | Accounting JAMB
A. current account B. cash account C. capital account D. realization account Correct Answer: Option C – capital account Explanation If the partnership decides to liquidate, the assets of the partnership are sold, liabilities are paid off, and any remaining cash...
by Sunday | Dec 3 | Accounting JAMB
A. contribution of each department to profit B. materials sold in each department C. insurance premium payable on employees D. number of employees in each department Correct Answer: Option A – contribution of each department to...
by Sunday | Dec 3 | Accounting JAMB
A. entity fund B. capital owned C. accumulated fund D. capital employed Correct Answer: Option C – accumulated fund
by Sunday | Dec 3 | Accounting JAMB
A. a surplus B. a liability C. a deflicit D. an asset Correct Answer: Option B – a liability
by Sunday | Dec 3 | Accounting JAMB
A. to use accumulated fund to described the net amount owed to members B. mainly to improve the welfare of her member C. to engaged in trading activities to sponsor its activities D. in order to compute the receipts and payment account Correct Answer: Option B –...