Mallam Gambo bought a freezer for his shop costing N10,500. In recording, he debited office…
Mallam Gambo bought a freezer for his shop costing N10,500. In recording, he debited office expenses … Read More
Accounts (Principles of Accounts)
What is the cardinal rule of the double entry system?
What is the cardinal rule of the double entry system? A. Debit the increasing account and … Read More
When a business incurs labour cost in installing a fixed asset, the cost is treated…
When a business incurs labour cost in installing a fixed asset, the cost is treated as … Read More
Antics Electronic Company recently bought six generators. Which of the following is the correct method…
Antics Electronic Company recently bought six generators. Which of the following is the correct method of … Read More
Accounting information is used by investors and creditors of a company to predict
Accounting information is used by investors and creditors of a company to predict A. future cash … Read More
The accounting convention which states that profit must not be recognized until realized while all…
The accounting convention which states that profit must not be recognized until realized while all losses … Read More
Assigning revenues to the accounting period in which goods were sold or services rendered and…
Assigning revenues to the accounting period in which goods were sold or services rendered and expenses … Read More
The term “accounting period” is used to refer to the
The term “accounting period” is used to refer to the A. time span during which taxes … Read More