Prepaid rent of N650 had been recorded as N560. This is an error of

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Gross Profit of a business is the

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Expenses incurred when incorporating a company are

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The entries necessary for recording profit loading on goods sent to branch are

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The assets of ABC Enterprises are stock N18,000. Debtors N11,000. Capital reserve was

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XYZ Enterprises bought ABC Enterprises by issuing 30,000 ordinary shares

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Closing stock was overstated. The effect is that

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When goods are purchased on account, the accounting entries are

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The ratio which measures the solvency of a firm is the

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A partner who has full power of participating in the conduct of a partnership business is a

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In a bonus issue of one new share for every four held, a holder of 100,000 shares will get additional shares of

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Williams and Jacob are in partnership but there is no partnership agreement. What is Williams’ interest on capital?

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