The gross profit on manufactured goods is the difference between the cost of goods manufactured and the?
A. market value of goods produced B. prime cost of production C. indirect cost of production D. goods produced Correct Answer: Option A – market value of goods produced
In a departmental accounting system; which of the following expenses will most likely be apportioned on the basis of turnover?
A. carriage outwards B. carriage inwards C. discounts received D. returns outwards Correct Answer: Option A – carriage outwards
The concise statement used to explain entries in the general journal is known as?
A. narration B. summary C. information D. commentary Correct Answer: Option A – narration
What is the networking capital?
Statement of assets and liabilities as at 31st December, 2001. Shareholders’ interest N240 Current liabilities N20 Current assets N110 Fixed assets N140 A. N90m B. N70m C. N100m D. N80m Correct Answer: Option A –...Products
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