The amount of individual items on a government budget is called A vote B deposit C loan D grant Answer is A
The cash bass of accounting requires the recognition of revenue only when they are A due B earned C paid D received Answer is D
The receipt from a special tax levy to pay maturing interest obligation are recorded in A capital fund project B Debt Service Fund C Tax Assessment Fund D Special Revenue Fund Answer is C
The expenditure on a good or services which is consumed either immediately or within a current accounting period is called A fixed expenditure B capital expenditure C annual expenditure D recurrent expenditure Answer is D
An advantage of using accounting ratios is that they A can be easily calculated B facilitate decision making C are stipulated by law D shows error and fraud Answer is B
The document setting out the regulations regarding shares, meetings and internal organization of a company is known as A memorandum of association B article of association C prospectus D company law Answer is B
A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued …
A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued …
when shares issued are paid for, accounting entry required is A debit bank or cash account and credit share capital and/or premium account B credit bank or cash account and debit share capital and/or premium account C debit shares account …
Under which of the following conditions is a partnership dissolved? A Change of partnership’s head office B admission of a new partner C Purchase of a large quantity of fixed asset D Retirement of a manager who is not a …
Kayode, Akpan and Kachalla are in partnership. Their respective capital accounts had the following balances: N40,000, N50,000 and N70,000. The partners agree to admit Wamo as a new partner with a one-fifth interest in the partnership capital in exchange for …
Goodwill appears in the books of a business only if it has been A purchased at a certain price B raised in connection with the admission of a new partner C raised to account for the true value of a …