A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001. The net book value at the time of sale was?
A. N33,000 B. N30,000 C. N17,000 D. N16,000 Correct Answer: Option A A. N33,000
A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001. The profit or loss on sale was?
A. ₦17,000 profit B. ₦17,000 loss C. ₦16,000 profit D. ₦16,000 loss Correct Answer: Option B B. ₦17,000 loss
In which ledger is the account of Yao, a debtor found?
A. norminal ledger B. purchases ledger C. general ledger D. sales ledger Correct Answer: Option D D. sales ledger
In which of the following is purchase of fixed assets on credit first recorders?
A. purchases journal B. journal proper C. cash book D. general ledger Correct Answer: Option B B. journal properProducts
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Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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Co-Ownership Structures and Land Acquisition Methods in Nigeria
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Rights in Community Land and Fundamental Land Concepts in Nigeria
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Customary Land Control and the Origins of Nigeria's Land Use Act
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Land Ownership Principles and Transaction Laws in Nigeria
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