by Sunday | Jan 10 | Accounting WAEC
Feb 1 purchased 200 units @ ₦2.00 each Feb 3 purchased 100 units @ ₦1.00 each Feb 4 issued 120 units @ ₦5.00 each Feb 5 purchased 50 units @ ₦3.00 each Feb 6 issued 100 units @ ₦4.00 each A. 330 B. 420 C. 230 D. 320 Correct Answer: Option C C....
by Sunday | Jan 10 | Accounting WAEC
A. partners B. joint venture C. the same person D. separate legal entities Correct Answer: Option D D. separate legal entities Explanation The business entity concept state that business is treated as a separate entity from parties having proprietary or economic...
by Sunday | Jan 10 | Accounting WAEC
A. it ascertain financial position B. it prevents fraud C. transactions are recorded in monetary terms D. it monitors the progress of the enterprise Correct Answer: Option C C. transactions are recorded in monetary terms Explanation In accounting, all transactions are...
by Sunday | Jan 10 | Accounting WAEC
A. Floor area B. Turnover C. Purchases D. Horse-power Correct Answer: Option C C. Purchases Explanation Discount received suggested basis of allocation is purchased. It should be noted that the basis of the allocation of expenses will depend on the method specified in...
by Sunday | Jan 10 | Accounting WAEC
A. ensure that departmental managers are adequately monitored B. record transactions for each department for better documentation C. tackle any recording problem as a result of expansion D. evaluate the profit of different departments Correct Answer: Option D D....
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