1-10-cbt

#1-10 Financial Accounting Questions & Answers

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1. When the assert is purchased using cheque or cash

 
 
 
 
 

2. If revenue expenditure is erroneously treated as capital expenditure, then the result will be

 
 
 
 
 

4. Uncle Charles transfer his pickup van valued N117,675 to his business

 
 
 
 
 

5. The permanent and continuing diminution in the quality, quantity of value assets from any cause whatsoever is referred to as

 
 
 
 
 

7. Paid Jolape amount owed N3,600 less cash discount of 1%

 
 
 
 
 

8. In a bank reconciliation statement, a repurchased bank draft is treated as

 
 
 
 
 

10. In a circumstance, where the resources of other parties other than the Owners have been invested in the business we have.