NECO Financial Accounting Questions and Answers 2021/2022 OBJ/Essay (Expo) | Check

Updated NECO Financial Accounting Questions and Answers 2020/2021 Essay and Objectives. Get Free NECO Accounting Expo now. Are you interested in scoring A1 in the ongoing NECO Financial Accounting exams?

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NECO Financial accounting Answers

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NECO 2021 Accounting Objectives Questions and answers

PAPER I OBJECTIVES

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NECO 2021 Financial Accounting Essay Questions and Answers

Below are past Answers:

3b)
i)business entity: state that every economic unit regardless of it legal form is treated as separate entity from its owners
ii)going concern:it assumes that the business unit will operate in perpetuity
iii)matching concept:holds that for any accounting period they earned reveune and the incomed cost must be matched and reported for the period

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4a)
i) error of omission
ii ) error of original entry
iii ) compensating error
iv) error of original entry
v ) error of commission
vi) error of complete reversal of entry
vii) error of commission
viii ) error of omission
ix) error of principle
x ) error of complet reversal of entry
4b)
i) error
ii ) credit transfer
iii ) standing order
iv) uncredited cheque
v ) dishonoured cheque

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