by Sunday | Nov 29 | Accounting JAMB
A. it enable the organization to determine the branch that is making either profit or loss B. it allows proper control over the branch by the head office C. it assist the organization to determine the performance of a branch manager D. it allows fraud and wastage of...
by Sunday | Nov 29 | Accounting JAMB
A. Sales B. issue C. purchases D. requisition Correct Answer: Option B – issue
by Sunday | Nov 29 | Accounting JAMB
Given: I. It records subscription in arrears II. Payments of liabilities is effected III. The account does not show if cash payment is revenue or capital expenditure IV. It performs the same function as cashbook A. I, II and IV B. II, III and IV C. III and IV D. I, II...
by Sunday | Nov 29 | Accounting JAMB
A. invoice B. cheque book C. credit note D. pay-in-slip Correct Answer: Option D – pay-in-slip Explanation Pay-in-slip: This is in form of a slip designed with the name of the bank on top that has dates amounts in figure and word, column for the denomination of...
by Sunday | Nov 29 | Accounting JAMB
A. Unpresented cheque B. Dividend C. Uncredited cheque D. credit transfer Correct Answer: Option C – Uncredited cheque Explanation Uncredited cheque has to be less when starting with balance as per cashbook not add because the cheque are yet to be credited by...