>UNIVERSITY OF LAGOS(UNILAG) FINACIAL ACCOUNTING 2006

>UNIVERSITY OF LAGOS

2006 POST-UTME EXAMINATION

FINANCIAL

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1. A ssets with short lives, which change form in the course of business is called

A. good assets.

B. fictitious assets

C. current assets.

D. fixed assets

2. T he group of users of accounting infomiation responsible for achieving the goals of the business is its

A. employers.

B. management

C. accountants.

D. investors

3. G iven that opening Debtors figure is N23,000, Sales N96,O00 and receipt from debtors N90,000, the closing debtors should be

A. N17,000

B. N29,000.

C. N119,000

D. N209 ,000

4. A person to whom an entity is indebted is called

A. a debtor.

B. an investor.

C. a liability

D. a creditor

5. A ssets with short lives and which often change form in the course of business is called

A. permanent capital

B. owners capital

C. current assets

D. fixed assets.

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David Silva

Comments

  1. Kudos to u.dis is commendable.i pray GOD will contd to blessed u,strengthen u,protect u and grant u ur heart desire.am impress keep it up.

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