Carriage inwards
Carriage outwards
Discount received
Returns outwards
Correct answer is B
No explanation has been provided for this answer.
Depreciation of plant and machinery Factory rent Indirect wages General indirect expenses Lubricants Carriage inwards Factory power Bank charges Carriage outwards |
₦ 1,600 650 695 726 1,235 829 350 612 2,900 |
Determine the total factory overhead cost
₦4,485
₦6,085
₦6,556
₦5,256
Correct answer is D
No explanation has been provided for this answer.
The ordinary shareholders enjoy the following right except the right to
Receive dividends at a predetermined rate
Vote at annual general meetings
Elect the board of directors
Participate in additional issues of shares
Correct answer is A
No explanation has been provided for this answer.
Which of the following stock valuation method is suitable under inflationary conditions?
LIFO
Simple average
FIFO
Weighted average
Correct answer is C
No explanation has been provided for this answer.
In the preparation of financial statements, full disclosure of minor events are ignored in line with
Accrual concept
Money measurement concept
Business entity concept
Materiality concept
Correct answer is D
No explanation has been provided for this answer.