Capital and revenue expenditures of government are usually accounted for under funds which include
Technical, special trust and commercial funds
Personal advances, technical and public funds
Personal advances, treasury clearance and special trust funds
Commercial loans and treasury clearance funds
Correct answer is B
No explanation has been provided for this answer.
The ordinary shareholders enjoy the following right except the right to
Receive dividends at a predetermined rate
Vote at annual general meetings
Elect the board of directors
Participate in additional issues of shares
Correct answer is A
No explanation has been provided for this answer.
Which of the following stock valuation method is suitable under inflationary conditions?
LIFO
Simple average
FIFO
Weighted average
Correct answer is C
No explanation has been provided for this answer.
Sales ledger control account contains the total amount in respect of
Investors
Creditors
Shareholders
Debtors
Correct answer is D
No explanation has been provided for this answer.
In the preparation of financial statements, full disclosure of minor events are ignored in line with
Accrual concept
Money measurement concept
Business entity concept
Materiality concept
Correct answer is D
No explanation has been provided for this answer.