by Sunday | Dec 7 | Accounting JAMB
Given: Rates paid during the year amounted to N2,250 at N125 per month and 1,035 was paid for electricity in the same period at N115 per month. A. N345 B. N750 C. N1,380 D. N1,500 Correct Answer: Option B –...
by Sunday | Dec 7 | Accounting JAMB
A. added to fixed assets on the balance sheet B. deducted from the fixed assets on the balance sheet C. deducted from the profit and loss account D. added to current liabilities of the account Correct Answer: Option B – deducted from the fixed assets on the...
by Sunday | Dec 7 | Accounting JAMB
Zakari started a business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. Profit for the year amounted to 22,100. His closing capital was N73,800. A. N2,300 B. N9,900 C. N17,100 D. N19,500 Correct Answer: Option A –...
by Sunday | Dec 7 | Accounting JAMB
A. ledger account B. bank account C. cash book D. bank column Correct Answer: Option B – bank account
by Sunday | Dec 7 | Accounting JAMB
A. payer B. drawer C. drawee D. payee Correct Answer: Option D – payee