A financial plan of action expressed in monetary terms is a/an
Warrant
Budget
Imprest
Consolidated fund
Correct answer is B
A budget is an estimation of revenue and expenses over a specified future period of time. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
The document prepared for the disbursement of government fund is
An invoice
A receipt
A payment voucher
A bill
Correct answer is B
No explanation has been provided for this answer.
Branch stock adjustment account
Goods sent to branch account
Branch debtors account
Branch profit and loss account
Correct answer is B
When goods are sent to the branch office at cost we debit branch stock account and credit goods sent to branch account (at cost price)
Carriage inwards is shown on the
Debit side of the trading account
Credit side of the trading account
Credit side of the profit and loss account
Debit side of the profit and loss account
Correct answer is A
It is posted to the debit side of trading account and added to the cost of purchase
₦21,504
₦19,792
₦18,352
₦16,128
Correct answer is B
Share of profit = \(\frac{4}{4 + 3}\) = \{\frac{4}{7}\) = 0.5714
0.5714 x 34636 = 19,792