Accounting Questions and Answers

The expenditure on a good or service which is consumed either immediately or within a current accounting government?

Which of the government serves as an input, storage and output device of a computer?

Which of the following serve as the main Government Fund used to service all operations of the government?

The Chief accounting officer of the federation is

\(\begin{array}{c|c} & N \\ \hline Sales & 200,000 \\ \text{Opening Stock} & 20,000 \\ purchases & 140,000 \\ \text{Closing Stock} & 10,000 \\ Expenses & 10,000\\ Bank & 10,000 \\ Capital & 85,000 \\ Creditors & 35,000 \\ Debtors & 50,000 \\ \text{Fixtures and fittings, cost} & 10,000 \\ \text{Freehold land and building} & 70,000 \\ Drawings & 10,000\end{array}\) Gross profit is