₦5,750
₦5,350
₦400
₦115
Correct answer is A
No explanation has been provided for this answer.
The assumption that a business has perpetual existence is recognized by
Entity concept
Periodicity concept
Going-concern concept
Realisation concept
Correct answer is C
No explanation has been provided for this answer.
Authorized capital
Registered capital
Issued capital
Nominal capital
Correct answer is D
No explanation has been provided for this answer.
Omission
Original entry
Principle
Commission
Correct answer is C
No explanation has been provided for this answer.
In single entry and incomplete records, the net assets method used to ascertain profit is
Net asset at the end of a period - net assets at the begining of a period = profit + additional capital - drawings
Net asset at the end of a period - net asset at the beginig of a period = profit - additional capital - drawings
Net asset at the end of a period - net asset at the begining of a period - drawings
Net asset at the end of a period + additional capital - drawings
Correct answer is A
No explanation has been provided for this answer.