Accounts - Principles of Accounts Questions
Question 132:
The end result of governmental accounting procedure is to
- A Keep proper records of government expenditures
- B Give financial information to the public and investors
- C Produce timely and accurate financial reports for legislators and the public
- D Give information on the performance of public enterprises
Question 133:
The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal<br/>The Correct closing balance for Musa's current account is
- A N36 000 Credit
- B N16 600 credit
- C N16 600 debit
- D N1 800 credit
Question 134:
The Act establishing the institute of Chartered Accountants of Nigeria (ICAN) came into force on?
- A Ist September, 1960
- B Ist October, 1960
- C Ist October,1963
- D Ist , September,1965
Question 135:
Cost reports for the intention of management should reflect?
- A As much details as possible
- B Summary figures only
- C Details of non-controllable expenses
- D Cost and comparable data useful in decision-making