by Sunday | Dec 2 | Accounting JAMB
Ibrahim, a micro-business operator, sold 10 bags of sugar to Jide at a total cost of #12,000. In the book of Ibrahim; the entry to record the transaction would be to debit A. sugar account #12,000 and credit Jide #12,000 B. Jide #12,000 and credit sales account...
by Sunday | Dec 2 | Accounting JAMB
A. motor van and credit Akirika B. sales and credit Akrika C. motor van and credit cash D. cash and credit motor van Correct Answer: Option C – motor van and credit cash Explanation Since the van is not for resale rather to help in the running of the business,...
by Sunday | Dec 2 | Accounting JAMB
A. debiting the capital account B. crediting the capital account C. debiting the cash account D. crediting the cash account Correct Answer: Option C – debiting the cash account
by Sunday | Dec 2 | Accounting JAMB
A. capital and debit liabilities B. liabilities and credit assets C. assets and credit capital D. capital and credit assets Correct Answer: Option C – assets and credit capital
by Sunday | Dec 2 | Accounting JAMB
A. the application of professional competency B. the accuracy of postings C. the casting of financial figures D. effective preparation of balance sheet Correct Answer: Option A – the application of professional competency
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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