23,700
27,750
29,650
51,650
Correct answer is B
Accumulated fund = Total assets - Liabilities
20,000 + 15,000 +4,700 - (6,500+4800+650)
39,700-11,950 = 27,750
Receipt and payments account is a summary of the?
Budget
Trading account
Cash book
Profit and loss account
Correct answer is C
A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period. All cash received and paid during the period whether capital or revenue is included in this account. It is the equivalent of a cashbook.
N46,000
N45,000
N28,000
N27,000
Correct answer is C
Trading profit and Loss Account
|
opening stock 4,000 Gross profit 31,000 |
Sales 50,000 G.profit b/d 31000 |
49,000
48,000
31,000
30,000
Correct answer is C
Trading profit and Loss Account
|
opening stock 4,000 Gross profit 31,000 |
Sales 50,000 G.profit b/d 31000 |
Autonomous costs
Service costs
Supporting cost
Subsidiary costs
Correct answer is B
Service costs are the costs incurred to provide or deliver a service. They have the element of manufacturing cost but are not directly involved in production. They include cost such as the use of power and water; fee for use of furniture carpeting/curtains, costs such as cleaning of common areas, costs of concierge or maintenance of common garden.