The main source of income for a limited liability company is? A. bank overdraft B. government subsidy C. undistributed profit D. bank loan E. share subscriptions Correct Answer: Option E E. share...Read More
To inform the buyer that the goods are in transit, the seller sends him? A. a quotation B. an invoice C. a debit note D. an advice note E. a credit note Correct Answer: Option D D. an advice...Read More
An association formed by Tyre manufacturers to safeguard and promote their interests is known as A. co-operative society B. chamber of commerce C. trade union D. consortium E. trade association Correct Answer: Option E E. trade...Read More
A speculator in the stock exchange market who sells securities in expectation of a fall in their prices is called?
A speculator in the stock exchange market who sells securities in expectation of a fall in their prices is called? A. broker B. a bull C. a bear D. an investor E. a stag Correct Answer: Option C C. a...Read More
Which of the following is not the function of a small? retailer A. supplying goods to the final consumer B. breaking goods into small units C. granting credits to known customers D. furnishing information to the wholesaler E....Read More
A company has recently advertised an issue of one million ordinary shares of 50kobo and 65kobo per share.
A company has recently advertised an issue of one million ordinary shares of 50kobo and 65kobo per share. when the issue is fully paid the company will collect? A. N65,000.00 B. N500,000.00 C. N650,000.00 D. N1,000,000.00 E....Read More
which of the following is a feature of co-operative society? A. dividend is based on the number of shares sold B. limited membership C. owned and run by the state D. democratic control and management E. voting rights are not...Read More
which of the following is not a means of raising capital by a promoter? A. goodwill B. borrowing C. selling of shares D. selling real assets E. past savings Correct Answer: Option A A....Read More
which of the following currencies does/do not belong to any country within the ECOWAS? A. naira and kobo B. dalasi C. cedis and pesewas D. Leo E. kwacha and shilling Correct Answer: Option...Read More
Total sales less total returns inwards are called? A. purchases B. net profit C. gross profit D. average stock E. net sales Correct Answer: Option E E. net salesRead More
The production of goods in anticipation of demand is made possible by? A. packaging B. warehousing C. branding D. advertising E. transporting Correct Answer: Option B B....Read More
- Goodwill is taken into account in partnership when?
- When partners maintain fixed capital accounts, the correct entries for a partner’s share of profit is?
- When a discount is allowed, the accounting entry is debit Discount allowed and credit?
- Which of the following is not correct? It is the _______?
- Which of the following is not a debit item in the partnership profit and loss appropriation account?