Feb 1 purchased 200 units @ ₦2.00 each Feb 3 purchased 100 units @ ₦1.00 each Feb 4 issued 120…
A. partners B. joint venture C. the same person D. separate legal entities Correct Answer: Option D D. separate legal…
A. it ascertain financial position B. it prevents fraud C. transactions are recorded in monetary terms D. it monitors the…
A. Floor area B. Turnover C. Purchases D. Horse-power Correct Answer: Option C C. Purchases Explanation Discount received suggested basis…
A. ensure that departmental managers are adequately monitored B. record transactions for each department for better documentation C. tackle any…
A. ₦20,000 B. ₦6,000 C. ₦6,174 D. ₦10,000 Correct Answer: Option C C. ₦6,174 Explanation Convert mark-up to margin 25/100=4…
A. to access the performance of the branches B. check the excesses of customers C. record charges in shareholdings D.…
A. warrant B. budget C. imprest D. consolidated fund Correct Answer: Option A A. warrant Explanation Warrant is the only…
A. plant and machinery B. motor van C. premises D. land Correct Answer: Option D D. land Explanation Land is…
A. Direct expenses B. Factory wages C. Distribution expenses D. Raw materials Correct Answer: Option C C. Distribution expenses Explanation…