by Sunday | Jan 10 | Accounting WAEC
Given: ₦ Fixed assets 55,000 Liabilities 20,000 Current assets 13,000 A. ₦88,000 B. ₦48,000 C. ₦62,000 D. ₦55,000 Correct Answer: Option B B. ₦48,000 Explanation Capital = Total Assets – Total liabilities ⇒ 55,000 + 13,000 – 20,000 68,000 –...
by Sunday | Jan 10 | Accounting WAEC
A. ₦165,000 B. ₦635,000 C. ₦600,000 D. ₦156,000 Correct Answer: Option A A. ₦165,000 Explanation Using the formular AC + DC + NP – D = CC Where OC = Opening Capital AC = Additional capital NP = Net profit D = Drawing CC = Closing Capital Therefore, 250,000 + P...
by Sunday | Jan 10 | Accounting WAEC
A. Ministry of Finance B. Accountant General C. Revenue office D. Auditor General Correct Answer: Option D D. Auditor General Explanation The Auditor-General ensures that all money collected is properly accounted for and that the records comply with the rules and...
by Sunday | Jan 10 | Accounting WAEC
A. FIFO B. LIFO C. SAP D. WAP Correct Answer: Option D D. WAP Explanation Weighted Average Price (WAP): Under this method issues are priced at a weighted average price which is obtained by dividing the value by the unit of stock in hand. Issues will continue to be...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.