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Goodwill is taken into account in partnership business when
An equipment costing # 9,000 has an estimated residual value of #900, and is depreciated at 10% per annum. What is the depreciation charge for the three using diminishing balance method?
An equipment costing #9,000 has an estimated residual value of #900, and is depreciated at 10% per annum. Using the straight-line method, what is the depreciation charge for the second year?
When manufactured goods are transferred to the trading account at the market price, the difference is credited to the
Peripherals are used in computer to describe
A person who prepares, analyses and interprets financial statements is known as a/an
Ordinary shares are also known as
The reward given to debenture holder is
Which of the following is a subsidiary book as well as a ledger?
A method that is beneficial for tax purposes in inflationary times is?
Which of the following is a written acknowledgement of a loan to a company?
Which of the following bodies regulates accounting practices in Nigeria?
| # | |
|
Stock 1/1/09: Raw materials |
20000 |
|
Work-in-progress |
5000 |
|
Stock 31/12/09: Raw materials |
500 |
| Work in progress | 4000 |
|
Raw materials purchased |
18000 |
|
Direct labour |
7500 |
| Direct expenses | 3000 |
| Factory expenses | 10000 |
The value of raw materials consumed is
| # | |
|
Stock 1/1/09: Raw materials |
2000 |
|
Work-in-progress |
5000 |
|
Stock 31/12/09: Raw materials |
500 |
|
Work-in-progress |
4000 |
|
Raw materials purchased |
18000 |
|
Direct labour |
7500 |
|
Direct expenses |
3000 |
|
Factory expenses |
10000 |
The raw materials available for production is ___
The ledger containing the accounts of debtors and creditors is
The chief accounting officer of the Federation is
The basic accounting equation is
The amount paid by the buyer of a business which is sold as going concern is
Prime cost consist of direct material and ___ cost
The net worth of a business is the