Question 1 of 8 48 total questions
Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \\ & purchases & 30,000\\ & \text{stock 31/12/2000} & 6,000\\ \text{Wages: direct} & & 34.200\\ indirect & & 10,800\\ \text{factory expenses: rent} & & 18,000\\ insurance & & 3,000\\ \text{work-in-progress: 1/1/2000} & & 3,750\\ \text{31/12/2000} & & 6,750\end{array}\)
A N42,300
B N31,800
C N28,800
D N21,000
Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \\ & purchases & 30,000\\ & \text{stock 31/12/2000} & 6,000\\ \text{Wages: direct} & & 34.200\\ indirect & & 10,800\\ \text{factory expenses: rent} & & 18,000\\ insurance & & 3,000\\ \text{work-in-progress: 1/1/2000} & & 3,750\\ \text{31/12/2000} & & 6,750\end{array}\)
A N68,700
B N65,700
C N62,700
D N58,800
Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \\ & purchases & 30,000\\ & \text{stock 31/12/2000} & 6,000\\ \text{Wages: direct} & & 34.200\\ indirect & & 10,800\\ \text{factory expenses: rent} & & 18,000\\ insurance & & 3,000\\ \text{work-in-progress: 1/1/2000} & & 3,750\\ \text{31/12/2000} & & 6,750\end{array}\)
A N34,500
B N31,500
C N28,500
D N28,500
Which of the following belongs to the normal ledger?
A salaries account
B fixtures account
C stock account
D debtors account
Discounts allowed is charged to
A trading account
B balance sheet
C current account
D profit and loss account
Which of the following is not a liability?
A accrued wages
B rent arrears
C prepayment
D insurance due but unpaid
The source document sent by the seller to the buyer when goods are returned is
A credit note
B purchase invoice
C sales invoice
D debit invoice
The accounting equation is
A Capital less current assets amounts to Liabilities
B assets less liabilities amount to capital
C fixed assets and current Liabilities amount to capital
D capital assets amount t liabilities
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