Teacha
  • Courses
  • Mock Exams
  • For Tutors
  • For Schools
  • Pricing
Log InStart Free
  1. Past Questions
  2. /
  3. UI
  4. /
  5. Financial Accounting
  6. /
  7. 2013/2014
  8. /
  9. Q18
Question 18

Why are adjustments in the profit loss account necessary?

  • A.To cover some expenses of the following year.
  • B.To ascertain the actual expenses during the year.
  • C.To show the provisions made during the year.
  • D.To show the total expenses paid and income received during the year
Objective

Question details

Exam body
UI
Subject
Financial Accounting
Year
2013/2014
Question no.
#18
Type
Objective
Previous · Q17Which of the following is the effect of an increase in the provision for… Next · Q19 A seller of vegetables and fruits should be encouraged to value his stock at the…

More from this paper

  • Q14The profit of a sole trader increases his .........
  • Q15The recording of wages due but not yet paid is an example of, an adjustment for…
  • Q16The trial balance showed wages, N2,500 and a note stated that N500 wages were…
  • Q20Stock valuation is useful because it informs the sales department on the
  • Q21Which of the following stock valuation methods is suitable under inflationary…
  • Q22In the absence of a sales day book or sales account, credit sales can be…
See all Financial Accounting 2013/2014 questions
Teacha

Africa's learning & exam readiness platform. Built for students, tutors, and schools.

Platform

  • Courses
  • Mock Exams
  • Past Questions

For You

  • I'm a Tutor
  • I'm a School
  • Pricing

© 2025 Teacha. Built for African learners, tutors, and schools. Teacha is not affiliated with WAEC, NECO, or JAMB. All past questions are sourced from publicly available materials.

Privacy PolicyTerms of UseCookie Policy