The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal] The correct closing balance for lawal’s current account is A N21 100 debit B N14 740 debit C N14 740 credit D …
The end result of governmental accounting procedure is to A keep proper records of government expenditures B give financial information to the public and investors C produce timely and accurate financial reports for legislators and the public D give information …
The acid test ratio in the company is A 1:1 B 1:2 C 2:3 D 3:2 Answer is B
What is the working capital? A N12 000 B N 11 000 C N 8 000 D N4 000 Answer is B
The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal The Correct closing balance for Musa’s current account is A N36 000 Credit B N16 600 credit C N16 600 debit D …
Public sector accounting is based on A cash B accrual C budget D consolidated fund Answer is C
Which of the following are advantages of departmental accounts? I. The department making the highest profit can be easily determined II. The capital of the business can be calculated easily III. Easy knowledge of the sources of funding IV. Encouragement …
If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rate, can remitted to the head office is A N2 100 B N 200 C N 1 900 D N …
A dividend of 10% in a company on 500 000 ordinary shares of N 1 nominal value has been declared, How much will a shareholder receive if he has 200 shares? A N 500 000 B N 50 000 C …
A company has 5% debentures worth N500 000 ordinary share capital N 2 000 000, and preference shares N1500 000. if the company made a profit of N 1 000 000, the debenture interest would amount to A N 1 …
Accumulated fund on 1st January 1993 is A N 8 570 B N8 470 C N 850 D N7 520 Answer is D
Additional information : 1: 1: 93 31 : 12 : 93 N N Subscription in arrears 300 450 Furniture 7000 Subscription received in advance 500 400 Rate owing 50 60 Subscription relating to the accounting year 1993 in the income …