by Sunday | Nov 29 | Accounting JAMB
A. public issue B. bonus C. right issue D. dividends Correct Answer: Option D – dividends Explanation Dividend is known as the kind of benefit enjoyed by the shareholder for investing their fund in a particular...
by Sunday | Nov 29 | Accounting JAMB
A. treasury receipt B. receipt voucher C. payment voucher D. treasury card Correct Answer: Option B – receipt voucher Explanation Receipt voucher is raised as evidence by revenue collector when government funds and property or received Receipt voucher: these are...
by Sunday | Nov 29 | Accounting JAMB
A. All records relevant to the organization B. Records of assets of the organization C. A collection of data items D. All records relating to employees Correct Answer: Option A – All records relevant to the organization. Explanation All record relevant to the...
by Sunday | Nov 29 | Accounting JAMB
A. current asset B. current liability C. fixed asset D. long term liability Correct Answer: Option B – current liability Explanation current assets are assets of the company that can be easily converted to cash when needed current liability: this is the...
by Sunday | Nov 29 | Accounting JAMB
A. Assets = Liabilities + Equity B. Net assets = Liabilities + Equity C. Assets + Liabilities = Equity D. Assets = Equity – liabilities Correct Answer: Option A – Assets = Liabilities + Equity Explanation The fundamental accounting equation is Asset =...