by Sunday | Aug 18 | Accounting WAEC
Creditors at start was N940 and purchases for the year was N4,060. During the year, cash paid to creditors was N3,890. N490 was received as discount. What is the creditors amount in the balance sheet? A. N450 B. N620 C. N660 D. N1,110 E. N1,430 Correct Answer: Option...
by Sunday | Aug 18 | Accounting WAEC
A. profit and losses will be shared equally B. interest not to be paid on capital C. interest on drawings is to be at the rate of 5% per annum D. salaries are not allowed to partners E. money in excess of capital agreed to subscribe is to attract an interest of 5% per...
by Sunday | Aug 18 | Accounting WAEC
A. purchases overstock B. cost of goods available for sale over a total of opening and closing stock C. cost of goods available for sale over total of opening and closing stock D. cost of goods sold over total opening and closing stock E. cost of goods sold over...
by Sunday | Aug 18 | Accounting WAEC
A. fixed capital B. registered capital C. nominal capital D. paid-up capital E. working capital Correct Answer: Option E – working capital
by Sunday | Aug 18 | Accounting WAEC
A. N3,460 B. N5,620 C. N14,170 D. N16,330 E. N18,490 Correct Answer: Option C – N14,170