In the preparation of the trading account of omuya Ltd., ...
In the preparation of the trading account of omuya Ltd., the company included credit sales of N18,000 made during the year. The concept guiding this treatment is the
Materiality concept
Dual aspect concept
Matching concept
Money measurement concept
Correct answer is B
Dual Aspect Concept, also known as Duality Principle, is a fundamental convention of accounting that necessitates the recognition of all aspects of an accounting transaction. Dual aspect concept is the underlying basis for double entry accounting system.
Transfers from the head office to branches are best carried out at? ...
.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7 800.............
Chukwu's Capital at 1/1/89 and 31/12/89 were N30,000 and N50,000 respectively. During the year h...
Use the following information to answer the given question \(\begin{array}{c|c} & Dr & Dr &...
Which of the following is an intangible asset and a measure of a firm's superior earning power? ...
Which of the following factors has aided the development of accounting? ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline...