After receiving the financial statement the Auditor General of the Federation must submit a report to the National Assembly within? A 60 days B 30 days C 120 days D 90 days Answer is B Follow me on twitter @campusflava …
Tunde purchased goods from Femi by cash worth N1000 with 10% cash discount. Tunde’s ledger control account is to be? A deited by N100 B credited by N100 C credited by N1000 D deited by N1000 Answer is A Follow …
The difference in the sales ledger control account is transferred to the? A profit and loss account B sales account C balance sheet D trading account Answer is D Follow me on twitter @campusflava for free cash/credit giveaway ( School …
Use the information below to answer question . Capital…………………N? Profit and loss………….N3500 Current assets…………..N? Current liabilities………N2000 fixed assets…………….N11000 Determine the current assets? A N7 000 B N6 000 C N8 000 D N9 000 Answer is B Follow me on …
NATIONAL OPEN UNIVERSITY OF NIGERIA 14/16, AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS SCHOOL OF MANAGEMENT SCIENCES MARCH 2014 EXAMINATION COURSE CODE: BUS 801 CREDIT UNITS: 2 COURSE TITLE: PRODUCTION AND OPERATIONS MANAGEMENT TIME ALLOWED: 2 HOURS. Instructions: 1. Attempt Question …
Use the information below to answer question . Capital…………………N? Profit and loss………….N3500 Current assets…………..N? Current liabilities………N2000 fixed assets…………….N11000 The company maintains a current ratio of 3:1. The capital balance is? A N95 00 B N12 500 C 11 500 D …
A seller of vegetables and fruits should be encouraged to value his stock at the end of a period using the? A weighted average method B simple average method C FIFO method D LIFO method Answer is C Follow me …
The objective of a trading account is to establish the? A cost of goods sold B gross profit C manufacturing profit D net profit Answer is B Follow me on twitter @campusflava for free cash/credit giveaway ( School fees support, Full waec, jamb, neco …
The objective of the purchase ledger control account is to established the? A credit purchases B net profit C total purchases D gross profit Answer is A Follow me on twitter @campusflava for free cash/credit giveaway ( School fees support, …
Use the information below to answer questions . On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000. The rate of the yearly depreciation expense would be? A 50% B …
Use the information below to answer questions . On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000. Calculate the yearly depreciation expense using the straight line method. A N11 …
Fatima withdraws goods from the business for personal use the accounting treatment is to debit? A stock account and credit profit and loss account B drawings account and credit stock account C profit and loss account and credit drawing account D stock account and …