The excess of the market value of goods produced over the cost of production is
Profit on manufacturing
Net profit
Goodwill
Gross profit
Correct answer is A
No explanation has been provided for this answer.
36,000
31,000
20,000
30,000
Correct answer is C
Sales ledger control account
| Bal b/f 9,000 Dishonored cheque 4,000 credit sales 20,000 33,000 |
Returns inwards 3,000 Bal c/d 3,000 33,000 |
36,000
31,000
30,000
10,000
Correct answer is C
Total sales = credit sales + cash sales
20,000 + 10,000 = 30,000
N16,000
N15,000
N12,800
N12,000
Correct answer is A
No explanation has been provided for this answer.
Carriage outward expenses of a business are treated in the
Balance sheet
Income surplus account
Profit and loss account
Trading account
Correct answer is C
No explanation has been provided for this answer.