Which of the following is the effect of a reduction in the provision for doubtful debts?

Which of the following is the basis of accounting in the Civil Service?

The reward given to a debenture holder is called

Which of the following is not a debit entry on a sales ledger control account?

If incorrect entries on the debit side equal other incorrect entries on the credit side, the error is that of

The accounting entries required for increase in provision for doubtful debts are

Subscription in advance is an example of

Which of the following is an example of Personal Accounts?

Working capital is measured by the excess of

The undistributed profits of a limited liability company is

Credit sales were debited to A. Akpan instead of B. Akpan. This is an error of

A list of balance extracted from the ledger is known as

Provision for depreciation on office furniture is charged to

Which of the following is not a cause discrepancy between cash book and bank statement balances?

The financial plan of the government for a year is contained in the

When a business is purchased, the double entries required in the purchaser's book are debit,

Which of the following are on the bank statement before reconciliation? i. standing order ii. payment to a creditor iii. receipt from a debtor iv. uncredited cheque v. unpresented cheque

A fund established for the payment of minor expenses is

The maximum amount which a company can raise by way of selling share is

The aggregate of amounts owed to a business by is customers is known as

Which of the following does a consignee prepare and send to his consignor?

In the consignee's record account, the accounting treatment of expenses paid for on behalf of the consignor is debit

Which of the following is a fictitious asset?

Expenditure incurred to maintain an asset's earning capacity is called

Which of the following does not relate to a manufacturing concern?

Which of the following is not true of a trial balance?

The chief accounting officer of Nigeria is called the

Expenses incurred but not yet paid is

Which of the following does not lead to depreciation assets?

Which of the following is capital expenditure?

What are accounting entries for bad debts recovered?

\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima's capital is

\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The shares of profit of each partners is

\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Halima's current account on 31st December, 1992 is

\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Ibinabo's current account on 32st December, 1992 is

Use the following information to answer the given question
The department of Administration of Odi Naka Chukwu State Water Corporation has underlisted staff position on 31st December, 1993
\(\begin{array}{c|c} Post & Grade & \text{Number in post} & Rate \\ \hline - & - & - & - \\ \text{Director of Audit} & 16 & 1 & \text{N200,000 x N20,000 - N3000,000} \\ \text{Assistant Director (Audit)} & 15 & 2 & \text{N160,000 x N18,000 - N268,000} \\ \text{Asst. Chief Internal Auditor} & 13 & 1 & \text{N140,000 x N12,000 - N224,000} \\ \text{Internal Auditor II} & 08 & 2 & \text{N60,000 x N6,000 - N120,000} \\ \text{Higher Executive Officer (Audit)} & 08 & 4 &\text{N60,000 x N6,000 - N120,000}\end{array}\)
NOTE: (a) All employees are on the first step of their salary
(b) \(\begin{array}{c|c} \text{Grade level} & \text{Housing allowance} & \text{Transport Allowance} \\ \hline \text{12 and above} & \text{N24,000 p.a} & \text{N18,000 p.a} \\ \text{07 to 11} & \text{N18,000 p.a} & \text{N12,000 p.a} \end{array}\)

The total basic salary for the period is

Use the following information to answer the given question
The department of Administration of Odi Naka Chukwu State Water Corporation has underlisted staff position on 31st December, 1993
\(\begin{array}{c|c} Post & Grade & \text{Number in post} & Rate \\ \hline - & - & - & - \\ \text{Director of Audit} & 16 & 1 & \text{N200,000 x N20,000 - N3000,000} \\ \text{Assistant Director (Audit)} & 15 & 2 & \text{N160,000 x N18,000 - N268,000} \\ \text{Asst. Chief Internal Auditor} & 13 & 1 & \text{N140,000 x N12,000 - N224,000} \\ \text{Internal Auditor II} & 08 & 2 & \text{N60,000 x N6,000 - N120,000} \\ \text{Higher Executive Officer (Audit)} & 08 & 4 & \text{N60,000 x N6,000 - N120,000}\end{array}\)
NOTE: (a) All employees are on the first step of their salary
(b) \(\begin{array}{c|c} \text{Grade level} & \text{Housing allowance} & \text{Transport Allowance} \\ \hline \text{12 and above} & \text{N24,000 p.a} & \text{N18,000 p.a} \\ \text{07 to 11} & \text{N18,000 p.a} & \text{N12,000 p.a} \end{array}\)

Total housing allowace for the period is

Use the following information to answer the given question
The department of Administration of Odi Naka Chukwu State Water Corporation has underlisted staff position on 31st December, 1993
\(\begin{array}{c|c} Post & Grade & \text{Number in post} & Rate \\ \hline - & - & - & - \\ \text{Director of Audit} & 16 & 1 & \text{N200,000 x N20,000 - N3000,000} \\ \text{Assistant Director (Audit)} & 15 & 2 & \text{N160,000 x N18,000 - N268,000} \\ \text{Asst. Chief Internal Auditor} & 13 & 1 & \text{N140,000 x N12,000 - N224,000} \\ \text{Internal Auditor II} & 08 & 2 & \text{N60,000 x N6,000 - N120,000} \\ \text{Higher Executive Officer (Audit)} & 08 & 4 & \text{N60,000 x N6,000 - N120,000}\end{array}\)
NOTE: (a) All employees are on the first step of their salary
(b) \(\begin{array}{c|c} \text{Grade level} & \text{Housing allowance} & \text{Transport Allowance} \\ \hline \text{12 and above} & \text{N24,000 p.a} & \text{N18,000 p.a} \\ \text{07 to 11} & \text{N18,000 p.a} & \text{N12,000 p.a} \end{array}\)

Total transport allowance for the period is

Use the following information to answer the given question
The department of Administration of Odi Naka Chukwu State Water Corporation has underlisted staff position on 31st December, 1993
\(\begin{array}{c|c} Post & Grade & \text{Number in post} & Rate \\ \hline - & - & - & - \\ \text{Director of Audit} & 16 & 1 & \text{N200,000 x N20,000 - N3000,000} \\ \text{Assistant Director (Audit)} & 15 & 2 & \text{N160,000 x N18,000 - N268,000} \\ \text{Asst. Chief Internal Auditor} & 13 & 1 & \text{N140,000 x N12,000 - N224,000} \\ \text{Internal Auditor II} & 08 & 2 & \text{N60,000 x N6,000 - N120,000} \\ \text{Higher Executive Officer (Audit)} & 08 & 4 & \text{N60,000 x N6,000 - N120,000}\end{array}\)
NOTE: (a) All employees are on the first step of their salary
(b) \(\begin{array}{c|c} \text{Grade level} & \text{Housing allowance} & \text{Transport Allowance} \\ \hline \text{12 and above} & \text{N24,000 p.a} & \text{N18,000 p.a} \\ \text{07 to 11} & \text{N18,000 p.a} & \text{N12,000 p.a} \end{array}\)

The total emolument for the assistant directors is

Use the following information to answer the given question
The department of Administration of Odi Naka Chukwu State Water Corporation has underlisted staff position on 31st December, 1993
\(\begin{array}{c|c} Post & Grade & \text{Number in post} & Rate \\ \hline - & - & - & - \\ \text{Director of Audit} & 16 & 1 & \text{N200,000 x N20,000 - N3000,000} \\ \text{Assistant Director (Audit)} & 15 & 2 & \text{N160,000 x N18,000 - N268,000} \\ \text{Asst. Chief Internal Auditor} & 13 & 1 & \text{N140,000 x N12,000 - N224,000} \\ \text{Internal Auditor II} & 08 & 2 & \text{N60,000 x N6,000 - N120,000} \\ \text{Higher Executive Officer (Audit)} & 08 & 4 & \text{N60,000 x N6,000 - N120,000}\end{array}\)
NOTE: (a) All employees are on the first step of their salary
(b) \(\begin{array}{c|c} \text{Grade level} & \text{Housing allowance} & \text{Transport Allowance} \\ \hline \text{12 and above} & \text{N24,000 p.a} & \text{N18,000 p.a} \\ \text{07 to 11} & \text{N18,000 p.a} & \text{N12,000 p.a} \end{array}\)

The total emolument for the Internal Audit Department is

Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Balance as per bank statement} & 240 \\ \text{Amount paid in but not credited} & 192 \\ \text{Unpresented cheque} & 70 \end{array}\)
What is the balance as per Cash book?

Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)
The cost of goods sold is

Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)
Net profit is

Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)
Current ratio is

Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)
Working capital is