In a public corporation, the capital expenditure incurred in a financial period is?
Spread over the useful life of the assets through depreciation
Apportioned at a pre-determined rate stipulated by law
Written off in the year in which they occur
Merged with recurrent expenditure and reported in one required lump sum
Correct answer is C
No explanation has been provided for this answer.
The term fiscal compliance means
All financial and related laws and regulations are adhered to
Only the budget fir the current period is complied with and no deficits allowed
All physical assets requirements have been met
Fiscal planning is necessary for proper accountabilit in the public sector
Correct answer is A
No explanation has been provided for this answer.
The difference between the closure of the books of a branch and those of a separate company is that?
There is retained earnings account on the branch books
The revenue and expenses account is closed to branch current account
There is no retained earnings account on the branch
The revenue and expenses account is not closed to the home office current account
Correct answer is A
No explanation has been provided for this answer.
Stock account is debited
Purchases account is debited
Stock account is credited
Mark-up account is debited
Correct answer is B
No explanation has been provided for this answer.
To compute gearing ratio, divide?
Profit by capital employed
Current assets by current liability
Profit by total assets
Long-term debts by equity capital
Correct answer is D
No explanation has been provided for this answer.