by Sunday | Mar 19 | Accounting WAEC
A. Discount received B. Total credit purchases C. Discount allowed D. Returns outwards Correct Answer: Option C C. Discount allowed Explanation A discount allowed is when the seller of goods or services grants a payment discount to a buyer. Discount allowed has to do...
by Sunday | Mar 19 | Accounting WAEC
A. Balancing B. Set off C. Reconciliation D. Canceling Correct Answer: Option B B. Set off Explanation A set-off clause is a legal clause that gives a lender the authority to seize a debtor’s deposits when they default on a loan. A set-off clause can also refer...
by Sunday | Mar 19 | Accounting WAEC
A. Current liability B. Expenses C. Income D. Current asset Correct Answer: Option C C. Income Explanation The effects of provision for doubtful debts in financial statements may be summed up as follows: (1) Income Statement: Only change (increase or decrease) in...
by Sunday | Mar 19 | Accounting WAEC
A. Revaluation B. Straight Line C. Diminishing balance D. Obsolescence Correct Answer: Option D D. Obsolescence Explanation Depreciation methods Straight-line Double declining balance Units of production Sum of years digits...
by Sunday | Mar 19 | Accounting WAEC
A. Balance sheet B. Trial balance C. Profit and loss account D. Trading account Correct Answer: Option C C. Profit and loss account Explanation Profit and loss account is an account in the books of an organization to which incomes and gains are credited and expenses...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.