Where a business is purchased, the full amount of the purchase consideration is credited to
Purchase of Business Account
Creditor's Account
Vendor's Account
Purchaser's Account
Debtor's Account
Correct answer is A
No explanation has been provided for this answer.
Which of the following is an advantage of the impurest system?
making hig profits in the business
Rewarding the imprest holder
Easy preparation of the final accounts
Meeting small items of expenditure
Enabling the Trial Balance to agree
Correct answer is D
No explanation has been provided for this answer.
In Manufacturing Account, prime cost plus factory overhead is known as
Conversion cost
Cost of raw materials consumed
Total cost
Production cost
Cost of work in progress
Correct answer is D
No explanation has been provided for this answer.
N8.00
N7,000
N6,000
N5,000
N1,000
Correct answer is E
No explanation has been provided for this answer.
N16,000
N14,000
N12,000
N8,000
N6,000
Correct answer is B
No explanation has been provided for this answer.