NECO Financial Accounting OBJ, THEORY/ESSAY Questions and Answer – June/July 2017 Expo Runz
CLICK HERE TO LIKE OUR FACEBOOK PAGE
SECTION A - ANSWER 2
i)General warrant refers to a warrant providing a law-enforcement officer with broad discretion or authority to search and seize unspecified places or persons.
Ii)A capital expenditure is an amount spent to acquire or improve a long-term asset
iii)Recurrent expenditure means the cost of incurred expenses in the accounting year
iv)supplementary budget refer to as the additional grant required to meet the required expenditure of the government
v)Payment Voucher refers to as document which can be used as proof that a monetary transaction has occurred between two parties
Interdepartmental Transfer (IDT) Can be defined as a procedure in which they transfer funds from one account to another
-Entries made twice
-Entries not made at all
-Entries to the wrong account
-Entries made twice: If an entry is made twice, the trial balance will still be in balance, so that is not a good document for finding it. Instead, for an ongoing transaction, you may have to wait for the issue to resolve itself. For example, a duplicate invoice to a customer will be rejected by the customer, while a duplicate invoice from a supplier will (hopefully) be spotted during the invoice approval process.
-Entries not made at all: Impossible to find on the trial balance, since it is not there (!). Your best bet is to maintain a checklist of standard entries, and verify that all of them have been made.
-Entries to the wrong account: This may be apparent with a quick glance at the trial balance, since an account that previously had no balance at all now has one. Otherwise, the best form of correction is preventive - use standard journal entry templates for all recurring entries.
-Reversed entries: An entry for a debit may be mistakenly recorded as a credit, and vice versa. This issue may be visible on the trial balance, especially if the entry is large enough to change the sign of an ending balance to the reverse of its usual sign.
-Units of Production depriciation
-Accelerated depreciation method.
i)Goodwill is an intangible asset that arises when a buyer acquires an existing business
ii)Bad debt is debt that is not collectible and therefore worthless to the creditor.
iii)Preference stock are shares of a company's stock with dividends that are paid out to shareholders before common stock dividends are issued.
iv)Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life.
V)Accumulated depreciation is the cumulative depreciation of an asset up to a single point in its life
NECO Financial Accounting obj and theory, NECO 2017 Economics answer, NECO F/Accounting Account, verified NECO June July Financial Accounting answer expo answer, 2017 NECO Financial Accounting expo answer
Verified NECO 2017 Financial Accounting (Obj & Theory) question NECO Free 2017/2018 Financial Accounting Theory & Obj Questions and answers have been posted FOR FREE OOOO 2017/2018 NECO Financial Accounting OBJ AND THEORY ANSWERS NOW AVAILABLE. ANSWERS NOW POSTED BY ADMIN. CLICK BELOW IMAGE FOR THE ANSWERS NOW. NECO 2017/2018 verified Financial Accounting OBJ THEORY/ Questions and Answers Here (Financial Accounting OBJ AND THEORY) NECO Financial Accounting expo,NECO 2017 Financial Accounting answers, FREE Financial Accounting ans for NECO, see NECO expo questions for free, correct Financial Accounting ans,Financial Accounting answers runz runs expo free real and correct NECO 2017 Financial Accounting free expo runz runs ans answers online for freee see free answers online. NECO 2017 Financial Accounting expo 2017/2018 NECO Free Financial Accounting Obj and theory Answers have been posted Financial Accounting 2017 NECO EXAMINATION EXPO/ANSWER RUNZ RUNS OBJECTIVES and ESSAY. KINDLY COMMENT “ I NEED IT ” IN THE COMMENT BOX BELOW. REAL NECO Geography QUESTIONS & ANSWERS Direct To … RE: 2017/2018 NECO SSCE Financial Accounting (Expo) NECO 2017/2018 certified Financial Accounting questions and answers NECO MAY JUNE 2017 Financial Accounting THEORY / OBJ QUESTION AND EXPO I need NECO Ssce free expo site, how can I get the answer for, Congratulation to Those who Sub For Previous Subjects and Received KINDLY COMMENT “ I NEED IT ” IN THE COMMENT BOX BELOW. Their Answers 6 Hours before Exam Financial Accounting. NECO Financial Accounting expo, 2017 NECO Financial Accounting, NECO Financial Accounting ans, answers/questions Financial Accounting NECO 2017 Financial Accounting Obj And Theory Answers – June/July Expo Financial Accounting.
We appreciate you for reading On baze360, but we think it will be better you like our facebook fanpage and also follow us on twitter below.
: Neco 2017 Financial Accounting Obj And Theory Answers – June/July Expo
: NECO Financial Accounting OBJ, THEORY/ESSAY Questions and Answer – June/July 2017 Expo Runz Account OBJ: 1dcceecabdc...