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An amount set aside to meet expenses whose value is not certain is a
A reserve is an amount
Use the following information to answer the question below
Nzemaman Local Government incurred the following expenditure in the year 2015.
Construction of market stalls 120,000
Staff salaries------------------- 40,000
Purchase of stationery--------- - 9,000
Sinking of boreholes------------
Building of classrooms
Maintenance of vehicles
Purchase of equipment
Capital expenditure for the local government is
Use the following information to answer the question below
Nzemaman Local Government incurred the following expenditure in the year 2015.
Construction of market stalls 120,000
Staff salaries------------------- 40,000
Purchase of stationery--------- - 9,000
Sinking of boreholes------------
Building of classrooms
Maintenance of vehicles
Purchase of equipment
Recurrent expenditure for the year is
Which of the following is not a method of charging goods to the branch by its head office?
The accounting entries when goods are sold on credit at the branch are debit
A branch that keeps its own records prepares the records of transactions with the head office in the
In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as
The objective of a departmental accounts is to ascertain the
When allotment of shares is made applicants for shares of a company become
Use the following information to answer the question below
Use the following information to answer the question below
Opening stock---------2,300
Purchases-------------11,874
Sales--------------------18,600
Closing stock-----------3,600
Cost of goods sold---11,500
What is the rate of stock turnover?
Use the following information to answer the question below
Opening stock---------2,300
Purchases-------------11,874
Sales--------------------18,600
Closing stock-----------3,600
Cost of goods sold---11,500
The percentage of gross profit to sales is
Share premium is classified in the balance sheet as
Working capital is the excess of
Goodwill may be brought into the books when
Interest on partners drawings are debited in the
Where there is no agreement between the partners, the Partnership Act states that
In a not-for-profit making organization, the Receipts and Payments Accounts is the equivalent of
A statement of affairs shows
Donations to a club are