The tier of government that uses financial memorandum is the?
A. federal government B. state government C. local government D. municipal government Correct Answer: Option C – local government
The accounting method that reports incomes when earned and expenses when incurred is called?
A. cash accounting B. commitment accounting C. fund accounting D. accrual accounting Correct Answer: Option D – accrual accounting
A company paid cash in redemption of N10000 debenture. The accounting entry to record this will be to debit?
A. cash and credit debenture B. debenture and credit cash C. cash and credit capital D. capital and debit cash Correct Answer: Option B – debenture and credit cash
When assets are realized during a partnership dissolution; the entries for the proceeds are to debit?
A. cash account and credit realization account B. rassets account and credit realization account C. realization account and credit realization account D. assets account and credit cash account Correct Answer: Option A – cash account and credit realization...Products
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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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