What is the balance carried down? A N11,680 B N11,930 C N12,330 D N13,430 Answer is C
What is the total income for the period? A N13,890 B N13,500 C N10,500 D N9,500 Answer is A
Determine the closing stock. A N30,000 B N40,000 C N50,000 D N60,000 Answer is C
The formula for calculating depreciation using straight line method is A Scrape Value+SalesUsefullife B Cost −Scrape ValueUsefullife C Sales −Scrape ValueUsefullife D Purchases +Sales Usefullife Answer is B
In government accounting, the method used which records on the basis of financial entity with self-balancing books instead of entity of proprietorship is A virement B fund accounting C consolidated fund D financial regulation Answer is D
The account of government into which all monies are received and from which all expenditures are disbursed is the A Federation account B Petroleum Technology Development Fund C Central Bank Account D Development fund Answer is A
Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each. The book value of issued share capital is A #675,000 B #975,000 …
Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each. Determine the amount received on application and allotment A #224,950 B #225,000 …
#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application.c A credit #1,600,000 B debit #1,600,000 C credit #1,600,000 D debit #800,000 Answer is D
The details of the share capital which a company is authorized to issue is contained in the A Articles of Association B Companies and Allied Matters Act C Memorandum of Association D Share capitak certificate Answer is C
Payment for shares in excess of amount offered gives rise to A subscription in advance B revenue reserves C capital reserves D calls-in-advance Answer is C
The expenses incurred in purchasing a vehicle is a A revenue expenditure B capital expenditure C recurrent expenditure D concurrent expenditure Answer is B