THE EXCESS REVENUE OVER EXPENDITURE IS CHARGED TO
A. profit and loss B. revenue account C. accumulated fund ✓ D. income and expenditure account The answer to the question is: C. accumulated fund The accumulated fund represents the surplus of income over expenditure that has been built up over time in…
IN MANUFACTURING ACCOUNT, DEPRECIATION OF OFFICE MACHINE IS CHARGED TO
A. trading account B. appropriation account C. balance street D. profit and loss account ✓ The answer to the question is: D. profit and loss account Depreciation is the allocation of the cost of a tangible asset over its useful life. In the context…
BEFORE NIGERIA BECAME A REPUBLIC, THE HIGHEST BODY CHARGED WITH THE ADMINISTRATOR OF JUSTICE WAS THE
A. Privy council ✓ B. High court C. Supreme court D. Court of appeal The answer to the question is: A. Privy council Before Nigeria became a republic, the highest body charged with the administration of justice was the Privy Council. The Privy Council…
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