by Sunday | Nov 30 | Accounting JAMB
Use the information below to answer the question that follows, A machine bought for N35,000 was estimated to have a life span of 5years with a scrap value of N9,000. A. N11,000 B. N7,000 C. N4,000 D. N24,000 Correct Answer: Option C –...
by Sunday | Nov 30 | Accounting JAMB
A. Saka’s account and credit discount received account B. Alaka’s account and credit discount received account C. Discount received account and credit Alaka’s account D. Discount allowed account and credit Alaka’s account Correct Answer: Option...
by Sunday | Nov 30 | Accounting JAMB
A. book keeping interprets data, accounting records it B. book keeping is regarded as the language of the business accounting ascertains its strength and weakness C. book keeping records data accounting interprets it D. book keeping summaries information accounting...
by Sunday | Nov 30 | Accounting JAMB
A. Administrative overhead B. Direct labour C. Direct materials D. Work-in-progress Correct Answer: Option A – Administrative overhead Explanation Administrative overhead is those costs not involved in the development or production of goods or services. This is...
by Sunday | Nov 30 | Accounting JAMB
A. ascertain the amount of profits or losses for the enterprise B. ascertain the amount of profits or losses for each department C. ascertain the cost of running the organization D. offset the loss of each department Correct Answer: Option B – ascertain the...