by Sunday | Mar 21 | Accounting WAEC
A. deferred capital B. nominal capital C. working capital D. authorized capital Correct Answer: Option C C. working capital Explanation The net working capital formula is calculated by subtracting the current liabilities from the current assets. Here is what the basic...
by Sunday | Mar 21 | Accounting WAEC
A. nominal account B. personal account C. real account D. fixed assets account Correct Answer: Option C C. real account Explanation Examples of Real Accounts. The real accounts are the balance sheet accounts which include the following: Asset accounts (cash, accounts...
by Sunday | Mar 21 | Accounting WAEC
A. balance sheet B. manufacturing account C. trading account D. profit and loss account Correct Answer: Option D D. profit and loss account
by Sunday | Mar 21 | Accounting WAEC
A. depreciation of factory equipment B. direct expenses C. direct wages D. carriage on raw materials Correct Answer: Option A A. depreciation of factory equipment Explanation Prime costs are all of the costs that are directly attributed to the production of each...
by Sunday | Mar 21 | Accounting WAEC
A. unsecured creditors B. partner’s loan and advances C. secured creditors D. partners’ capital Correct Answer: Option C C. secured creditors Explanation A secured creditor is generally a bank or other asset-based lender that holds a fixed or floating...