Which of these books of account could be classified as a subsidiary book as well as a ledger
For More Quiz Questions click here to download Global Quiz on Google PlayStore
For More Quiz Questions click here to download Global Quiz on Google PlayStore
Which of these statements CANNOT be defined as income?
A. Decrease in economic benefits during the accounting period
B. Increase in economic benefits during the accounting period
C. Decrease in liabilities
D. Gains arising on the disposal of non-current asset
Answer: A
For More Quiz Questions click here to download Global Quiz on Google PlayStore
Which of the following is NOT correct in differentiating between sole trader and limited liability companies?
A. A sole trader is fully and personally liable for any losses that the business might make
B. Drawings would only appear in the financial statements of a sole trader
C. Only companies have share capital
D. A sole trader's financial statements are private and never made available to any other equity holder
Answer: D
For More Quiz Questions click here to download Global Quiz on Google PlayStore
A vehicle was purchased on 1 January 2011 at a cost of N2,000,000 and was depreciated at 25% on cost. It was sold on 31 December 2013 for N1,400,000. Full-year depreciation 25% on cost. It was sold on 31 December 2013 for N1,400,000. Full-year depreciation was charged in the years of purchase and disposal. Determine the profit or loss on the disposal
For More Quiz Questions click here to download Global Quiz on Google PlayStore
The source of data for the recording of sales day book of a business enterprise is
For More Quiz Questions click here to download Global Quiz on Google PlayStore
On 1 January 2013 a motor vehicle, with the expected useful life span of 5 years and residual value of N100,000, was acquired for N1,600,000. Using sum-of-the-years digit method, what is the second year depreciation provision of the motor vehicle?
For More Quiz Questions click here to download Global Quiz on Google PlayStore
Depreciation of an asset with fixed period of legal life is often referred to as?
For More Quiz Questions click here to download Global Quiz on Google PlayStore
The fall in value of non-current intangible assets as a result of passage of time is referred to as?
For More Quiz Questions click here to download Global Quiz on Google PlayStore
The cash book of a trader shows an overdrawn account. Which of the following will reduce the balance when the necessary recordings are completed?
A. Bank charges
B. Unpresented cheques
C. Uncredited cheques
D. Dividend received by bank on behalf of customer.
Answer: D
For More Quiz Questions click here to download Global Quiz on Google PlayStore
Which of the following reconciliation items will affect the cash book balance?(I)Bank error overstating the bank balance(II)Cash book error, overstating the bank balance (III)Income received through the bank (IV) Imprest cheques
For More Quiz Questions click here to download Global Quiz on Google PlayStore
For More Quiz Questions click here to download Global Quiz on Google PlayStore
Select NOUN Past Questions & Answers by Faculties
Sciences
National Open University of Nigeria (NOUN) Faculty of Sciences Past Questions and Answers.
Education
National Open University of Nigeria (NOUN) Faculty of Education Past Questions and Answers.
Arts & Social Sciences
National Open University of Nigeria (NOUN) Faculty of Arts and Social Sciences Past Questions and Answers.
Law
National Open University of Nigeria (NOUN) Faculty of Law Past Questions and Answers.
Management Sciences
National Open University of Nigeria (NOUN) Faculty of Management Sciences Past Questions and Answers.
Health Sciences
National Open University of Nigeria (NOUN) Faculty of Health Sciences Past Questions and Answers.
Agriculture Sciences
National Open University of Nigeria (NOUN) Faculty of Agricultural Sciences Past Questions and Answers.
Select Project Topics & Materials by Categories
Accounting
Universities, Polytechnic's and Colleges of Education Accounting Project Topics and Materials.
Biology
Universities, Polytechnic's and Colleges of Education Biology Project Topics and Materials.
Business Education
Universities, Polytechnic's and Colleges of Education Business Education Project Topics and Materials.
Chemistry
Universities, Polytechnic's and Colleges of Education Chemistry Project Topics and Materials.
Computer Science
Universities, Polytechnic's and Colleges of Education Computer Science Project Topics and Materials.
Criminology & Security
Universities, Polytechnic's and Colleges of Education Criminology & Security Project Topics and Materials.
Economics
Universities, Polytechnic's and Colleges of Education Economics Project Topics and Materials.
Education
Universities, Polytechnic's and Colleges of Education Education Project Topics and Materials.
English/Linguistic
Universities, Polytechnic's and Colleges of Education English/Linguistic Project Topics and Materials.
Entrepreneurship
Universities, Polytechnic's and Colleges of Education Entrepreneurship Project Topics and Materials.
Environmental Science
Universities, Polytechnic's and Colleges of Education Environmental Science Project Topics and Materials.
Law
Universities, Polytechnic's and Colleges of Education Law Project Topics and Materials.
Marketing
Universities, Polytechnic's and Colleges of Education Marketing Project Topics and Materials.
Physics
Universities, Polytechnic's and Colleges of Education Physics Project Topics and Materials.
Political Science
Universities, Polytechnic's and Colleges of Education Political Science Project Topics and Materials.
Public Administration
Universities, Polytechnic's and Colleges of Education Public Administration Project Topics and Materials.
How to login to NOUN Elearn Portal
You can now use you matric number to login as your username and password in a lowercase.
https://elearn.nouedu2.net/login/
Note that you are to change your passw...
PERSONAL GROWTH SOLUTIONS FOR STUDENTS
Secrets of a Happy and Successful Student
Flemish Ministry of Education and Training Master Mind Scholarships 2021/2022 for study in Belgium
The Flemish Ministry of Education and Training awards scholarships to highly talented international students who want to study a master's programme at a Flemish university, a school of arts or ...
Coimbra Group Short Stay Scholarship Programme 2021/2022 for Young Researchers from Sub-Saharan Africa
Universities of the Coimbra Group offer short-term visits (generally 1 to maximum 3 months) to young African researchers from higher education institutions from Sub-Saharan Africa. The main aim of ...
