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A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
One of the objective of maintaining the account of a branch at the head office is to
The instrument isued by the Minister who authorized an officer to incure expenditure is a/an
An officer that is charged with the responsibility of carrying out investigations on the book of accounts to show the true and fair view is
Which of the following cannot depreciate?
Which of the following is not charged to the manufacturing account?
The manufacturing account is prepared to ascertain
In the preparation of statement of profit, if the opening capital is greater than closing capital, there will be
Use the information to answer this question
Payment to creditors ₦12,250
Creditors at start ₦550
Creditors at end ₦830
What is the creditors amount in the balance sheet?
Use the information to answer this question
Payment to creditors ₦12,250
Creditors at start ₦550
Creditors at end ₦830
What us the amount of purchase
Given:
Equipment Motor Vehicle Loan Creditors Sub in advance Sub in arrears |
₦ 10,000 15,000 4,500 3,000 150 3500 |
What is the accumulated fund?
The similarities between Receipts and payments and income and expenditure account is
In a non-profit making organisation, the excess of Assets over liabilities equals
In the absence of partnership agreement, a loan by a partner attracts interest at
Where there is no agreement made by the partners, the following provisions takes place except
Use the following information to answer this question
| Year | ₦ |
| 1991 1992 1993 1994 |
14,000 24,000 10,000 16,000 |
It has been decided to value goodwill at 2 years purchase of average profit for the past 4 years. The value of goodwill is
Shares that are offered to existing shareholders at a price is called
An ordinary share of ₦100 was issued at ₦80. The share was issued at
What was the gross profit?
What was the cost of goods sold?