by Sunday | Nov 29 | Accounting JAMB
A. Last in First Out B. weighted average C. First in First Out D. Simple average Correct Answer: Option A – Last in First Out Explanation Last in first out: when price rise it results to lower bet income because the leftover inventory might be extremely old and...
by Sunday | Nov 29 | Accounting JAMB
A. General reserve fund B. Consolidated Reserve Fund C. contingencies fund D. special fund Correct Answer: Option C – contingencies fund Explanation contingencies fund: if there is an urgent and unforeseen need for expenditure for which no other provision...
by Sunday | Nov 29 | Accounting JAMB
N Debtors opening 4000 Debtors closing 1500 Cash received from debtors 8500 Bad debts written off 350 Discount allowed 500 Discount received 1000 A. ₦4,350 B. ₦6,000 C. ₦5,150 D. ₦4,000 Correct Answer: Option C – ₦5,150 Explanation If the gross...
by Sunday | Nov 29 | Accounting JAMB
A. Unpresented B. Dividend C. Uncredited cheque D. credit transfer Correct Answer: Option C – Uncredited cheque Explanation Uncredited cheque: This has to be deducted when starting balance as per cash book
by Sunday | Nov 29 | Accounting JAMB
Given: I. Cash refunds II. Debit note issued III. Dishonored cheque IV. Purchases A. I, II and III only B. I and II only C. III and IV only D. I, III, and IV only Correct Answer: Option D – I, III, and IV only Explanation Purchases control account it is also...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.