Accumulated fund on 1st January 1993 is
N8,570
N8,470
N850
N7,520
Correct answer is D
No explanation has been provided for this answer.
An income and expenditure account is a summary of
All income and expenditure during a period
Revenue income and expenditure during a period
Receipts and payments during a period
The trading income a period
Correct answer is B
No explanation has been provided for this answer.
Has no particular period, the trading account has
Does not consider the cost of goods involved, the trading account does
Is concerned with the cost of production, the trading account is not
Is not concerned with the stock of raw materials the rading account is
Correct answer is C
No explanation has been provided for this answer.
N21,000
N17,000
N15,000
N6,000
Correct answer is B
No explanation has been provided for this answer.
In analyzing incomplete records, which of the following should be investigated?
The general ledger
The purchases day book and sales day book
The nature of trading activities and the basis on which goods are sold
The asset register together with the depreciation schedule
Correct answer is C
No explanation has been provided for this answer.
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