by Sunday | Dec 3 | Accounting JAMB
A. memorandum B. bye-law C. deed D. financial regulation Correct Answer: Option C – deed Explanation A partnership deed, also known as a partnership agreement, is a document that outlines in detail the rights and responsibilities of all parties to a business...
by Sunday | Dec 3 | Accounting JAMB
A. sundry debtors’ account B. appropriation account C. profit and loss account D. sundry current account Correct Answer: Option B – appropriation account Explanation A partnership appropriation account is an intermediary account between the profit and loss...
by Sunday | Dec 3 | Accounting JAMB
A. Savings account B. Current account C. Capital account D. Share capital account Correct Answer: Option B – Current account Explanation Current account of partners’ is also a type of Capital Account. So if there is a debit balance in Current Account, it...
by Sunday | Dec 3 | Accounting JAMB
A. bank account and crediting branch stock account B. goods sent to branch account and crediting branch debtors’ account C. branch stock account and crediting branch debtors account D. branch debtors’ and crediting cash account Correct Answer: Option C...
by Sunday | Dec 3 | Accounting JAMB
A. bad debt account and crediting branch debtor’s account B. expenses account and crediting bank account C. profit and loss account and crediting branch stock account D. discount allowed account and crediting branch debtors’ account Correct Answer: Option...