Cost of repairs incurred on a fixed asset
A charge for the wear and tear of fixed assets
The cost incurred on replacing a fixed asset
Provision for loss of fixed asset
Correct answer is B
No explanation has been provided for this answer.
N45,000
N42,000
N36,000
N33,000
Correct answer is C
No explanation has been provided for this answer.
Cash discount received is shown in the
i. Cash
ii. Discount Received Account
iii. Supplier's Account
i and ii
ii and iii
i and iii
i, ii and iii
Correct answer is D
No explanation has been provided for this answer.
Trade discount
Cash discount
Quantity discount
Rebate
Correct answer is B
No explanation has been provided for this answer.
Partner's interest on capital is shown in the
Profit and loss Account
Partners fixed capital account
Profit and loss appropriation account
Trading account
Correct answer is A
No explanation has been provided for this answer.