Answers Which of the following is an example of factory overheads? Which of the following is an example of factory overheads? A. salary of marketing officer B. salary of… Read More
Answers Capital receipt is collected Capital receipt is collected A. on sales of motor vehicle B. on sales of stock in trade C.… Read More
Answers The addition of prime cost and factory overhead is The addition of prime cost and factory overhead is A. total factory overheads B. market value of goods… Read More
Answers Which of the following is a trading account item? Which of the following is a trading account item? A. discount allowed B. discount recieved C. carriage outwards… Read More
Answers The process of entering transaction from one book to another is The process of entering transaction from one book to another is A. reading B. posting C. numbering D.… Read More
Answers A balance sheet shows only A balance sheet shows only A. fixed assets and current assets B. assets and long term liabilities C.… Read More
Answers A fixed assets fully written-down by a trader is now considered to be worth ₦5,000…. A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry… Read More
Answers Which of the following is a book of ordinary entry? Which of the following is a book of ordinary entry? A. ledger B. balance sheet C. bank statement… Read More
Answers Which of the following is not a source document? Which of the following is not a source document? A. journal paper B. sales invoice C. debit note… Read More
Answers Trade discounts are given for Trade discounts are given for A. bulk purchases B. prompt payment C. quick delivery D. cash payment Correct… Read More