by Sunday | Dec 3 | Accounting JAMB
Use the information below to answer question ……………………….31/12/07…….31/12/08 Stocks……………………N4 200………N3 900 Rates in...
by Sunday | Dec 3 | Accounting JAMB
Use the information below to answer question ……………………….31/12/07…….31/12/08 Stocks……………………N4 200………N3 900 Rates in...
by Sunday | Dec 3 | Accounting JAMB
A. have a higher cost of goods sold B. have a higher gross profit C. pay higher gross profit D. have a higher value for closing stock Correct Answer: Option A – have a higher cost of goods sold Explanation During periods of inflation (rise in prices), the use of...
by Sunday | Dec 3 | Accounting JAMB
A. updated at the end of the accounting year B. not considered in the updating process C. updated continuously D. updated at the beginning of the accounting year Correct Answer: Option A – updated at the end of the accounting year Explanation In accounting, a...
by Sunday | Dec 3 | Accounting JAMB
Use the information below to answer questions Sundry debtor………………N20,000 Provision for bad debts……..N500 Provision for bad debt at 4% of sundry debtors. A. N780 B. N800 C. 1200 D. N200 Correct Answer: Option B –...