The purchases Ledger control Account is also referred to as
Total creditors Accounts
Total debitors Account
Cash Account
Personal Account
Correct answer is A
No explanation has been provided for this answer.
N200,000
N180,000
N135,000
N75,000
Correct answer is C
No explanation has been provided for this answer.
The depreciation method that allocates higher value to the use of an asset in its earlier years is
Diminishing balance method
Revaluation method
Fixed instalment method
Straight line method
Correct answer is A
No explanation has been provided for this answer.
What is the effect on a firm for making a payment of N10,000 to creditor? its liabilities
Decrease and its assets decrease
Increase and its assets decrease
Decrease and its assets increase
Increase and its assets increase
Correct answer is D
No explanation has been provided for this answer.
A business firm incurs labour cost in installing machinery. This should be treated as
Salaries account
Machinery account
Debtors account
Creditors account
Correct answer is B
No explanation has been provided for this answer.