Expenses incurred when incorporating a company are
Preliminary expenses
Selling expenses
Administrative expenses
Financial expenses
Correct answer is A
No explanation has been provided for this answer.
The entries necessary for recording profit loading on goods sent to branch are
Debit branch stock account, credit branch stock adjustment account
Credit branch stock Adjustment account, debit goods, debit goods sent to branch account
Debit goods sent to branch account, credit branch stock account
Debit branch stock adjustment account, credit branch stock account
Correct answer is B
No explanation has been provided for this answer.
N1,500
N1,000
N500
N150
Correct answer is C
No explanation has been provided for this answer.
N31,500
N30,000
N28,500
N28,000
Correct answer is C
No explanation has been provided for this answer.
Closing stock was overstated. The effect is that
Amount of goods available was understated
Cost of goods sold was overstated
Amount of sales was understated
Gross profit was overstated
Correct answer is D
No explanation has been provided for this answer.