Given: ₦ Equipment 10,000 Motor Vehicle 15,000 Loan 4,500 Creditors 3,000 Sub in advance 150 Sub in arrears 3500 …
A. cost of goods sold B. cost of production C. Gross profit D. Finished goods Correct Answer: Option B B.…
A. profit B. capital C. loss D. cash Correct Answer: Option C C. loss Explanation The difference between opening and…
Use the information to answer this question. Payment to creditors ₦12,250 Creditors at start ₦550 Creditors at end ₦830 …
Use the information to answer this question. Payment to creditors ₦12,250 Creditors at start ₦550 Creditors at end ₦830 …
A. Both accounts follows the principle of double entry B. They are summaries of financial statements C. Both include capital…
A. capital B. capital employed C. capital owned D. accumulated funds Correct Answer: Option D D. accumulated funds Explanation The…
A. 20% B. 5% C. 10% D. 15% Correct Answer: Option B B. 5% Explanation If no specific agreement is…
A. No salary for partners acting in the business B. There is interest on capital C. No interest to be…
A. par B. premium C. right issue D. bonus issue Correct Answer: Option C C. right issue Explanation Right issue…