The basis upon which assets of an organization is valued is the
Historical concept
Business entity concept
Periodicity concept
Materiality concept
Correct answer is A
The historical cost concept (also known as cost principle of accounting) states that the assets and liabilities of a business should be presented in accounting records at their historical cost.
Department store
Multiple store
Supermarket
Hypermarket
Correct answer is B
No explanation has been provided for this answer.
An unfavourable balance of trade for a country means that her?
Imports exceed exports
Visible exports exceed invisible import
Invisible exports exceed visible exports
Imports and exports are equal
Correct answer is A
No explanation has been provided for this answer.
N125,000
N500,000
N50,000
N25,000
Correct answer is C
No explanation has been provided for this answer.
i and iv only
i and iii only
ii and iii only
iii and iv only
Correct answer is B
No explanation has been provided for this answer.