N6,400
N4,000
N3,200
N2,000
N1,2000
Correct answer is C
No explanation has been provided for this answer.
Which of the following expenses is allocated according to the floor area?
Wages and Salaries
Rent and Rates
Canteen Expenses
Discount allowed
Correct answer is B
No explanation has been provided for this answer.
A person who has applied to purchase shares in a company is referred to as
A promoter
A subscriber
An allottee
An underwriter
Correct answer is B
Companies issue their shares for subc=scription either publicly or by private placement. People who apply to subscribe (buy) the shares are subscribers.
The document which sets out the internal arrangement for the proper management of a company is the
Prospectus
Article of association
Memorandum of association
Certificate of incorporation
Correct answer is B
Articles of association are a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records. it outlines the internal regulations of the company.
Use the following information to answer the question below
Mr White acquired Mr Black's business for GH¢ 410,000. The total assets were GH¢ 670,000 and liabilities amounted to GH¢ 320,000.
The double entry to record the good will in the books is debit
Cash account and credit goodwill account
Goodwill account and credit purchase of business account
Goodwill account and credit cash account
Purchase of business account and credit cash account
Correct answer is B
Goodwill is the established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold. In order to calculate goodwill, the fair market value of identifiable assets and liabilities of the company acquired is deducted from the purchase price.