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Use the information below to answer this question. Timo and Chris are computer engineers who went into partnership as Teachi and Co. Timo brought cash ofN12,000 furniture worth of N18,000 and vehicle worth of 70,000. Chris equally brought in cash …

The accounting concept that allows the cost of kitchen cutlery to be expensed, though it can be used for more than one year is A Materiality B Accrual C Going concern D Business entity Answer is A

Prime cost is one of the following A expenses which can be identified with an allocated to cost centers B aggregate direct material cost, direct labour cost and variable direct expenses C the cost taken into account in the production …