by Sunday | Dec 3 | Accounting JAMB
A. accruals B. materiality C. objectivity D. periodicity Correct Answer: Option A – accruals Explanation Accrual concept is the most fundamental principle of accounting which requires recording revenues when they are earned and not when they are received in...
by Sunday | Dec 3 | Accounting JAMB
A. Cost accounting B. Financial acounting C. Management accounting D. Petroleum accounting Correct Answer: Option B – Financial acounting Explanation Financial Accounting is based on a systematic method of recording transactions of any business according to the...
by Sunday | Dec 3 | Accounting JAMB
A. treasury receipt B. receipts vourcher card C. treasury card D. stores receipts vourcher Correct Answer: Option B – receipts vourcher card Explanation A receipt voucher is a type of voucher which is typically issued by a certain business or an organization...
by Sunday | Dec 3 | Accounting JAMB
A. financial regulations B. virement C. warrant D. supplementary estimate Correct Answer: Option D – supplementary estimate Explanation Supplementary Budget / estimate is the request for additional funds by Ministries and Departments during the course of the...
by Sunday | Dec 3 | Accounting JAMB
A. premium B. par C. discount D. loss Correct Answer: Option A – premium Explanation Share premium is the amount by which the amount received by a company for a stock issue exceeds its face value. when shares are sold at an amount higher than the face value it...