Profit or loss in a partnership is usually arrived at aft...
Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including____________
Partners salaries
Interest on capital
Interest on loans
Partners drawings
Correct answer is C
Is charged in the profit and loss account as finance expenses
D Motor vehicle 500000 Stock 35000 ...
Which of the following ratios measure the ability of a firm to meet short-term obligations? ...
1. Cash sales 11. Cash purchases 111. Cash discount allowed 1V. Cash payment V. Cash receipts ...
Given: Ordinary share dividend ₦100,000, General reserve ₦4,100, Net profit b/d ₦27,370, corp...
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\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \tex...
When stock is withdrawn for personal use, the accounting entries is to debit ...