Where closing stock is undervalued, the effect is?
An increase in gross profit
A decrease in gross profit
An increase in purchases
A decrease in purchase
Correct answer is B
No explanation has been provided for this answer.
N345
N750
N1,380
N1,500
Correct answer is B
No explanation has been provided for this answer.
The balance on the provision for depreciation account is?
Added to fixed assets on the balance sheet
Deducted from the fixed assets on the balance sheet
Deducted from the profit and loss account
Added to current liabilities of the account
Correct answer is B
No explanation has been provided for this answer.
N2,300
N9,900
N17,100
N19,500
Correct answer is A
No explanation has been provided for this answer.
The imprest account is subsidiary to the
Ledger account
Bank account
Cash book
Bank column
Correct answer is B
No explanation has been provided for this answer.