by Sunday | Aug 16 | Accounting WAEC
Use the following information to answer this question An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995. A. N16,000 B. N14,000 C. N12,000 D. N8,000 E. N6,000 Correct...
by Sunday | Aug 16 | Accounting WAEC
A. conversion cost B. cost of raw materials consumed C. total cost D. production cost E. cost of work in progress Correct Answer: Option D – production cost
by Sunday | Aug 16 | Accounting WAEC
Use the following information to answer this question An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995. A. N16,000 B. N14,000 C. N12,000 D. N8,000 E. N6,000 Correct...
by Sunday | Aug 16 | Accounting WAEC
A. Machinery B. Debtors C. Creditors D. Salaries E. Goodwill Correct Answer: Option D – Goodwill
by Sunday | Aug 16 | Accounting WAEC
A. a new partner is admitted B. a partner is dormant C. the business is making huge profit D. the business has good customer relations E. it is a limited partnership Correct Answer: Option A – a new partner is...