Accounts - Principles of Accounts Past Questions and Answers

Which of the following is credited to the consolidated revenue fund?

One of the reasons for the existence of the public sector is to?

If the gross profit margin is 10% of sales, what is the value of the cost of goods sold?

If the opening stock is 5% of sales. calculate the purchases

Use the information to answer the question.
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
The insurance premium to be taken to the profit and loss account would be.