NECO 2020/2021 Financial Accounting Answers and Questions OBJ/Essay | Check Answers

NECO 2020/2021 Accounting Answers and Questions Tips are made available on this page. You don’t have to worry about having the right answers to questions.

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NECO Financial Accounting Questions and Answers 2020

NECO Financial accounting Answers

The National Examination Council is Responsible for the Setting and marking of the NECO Examination. The board does not welcome any form of examination Malpractice. Due to this fact, We advise all the the candidates that registered for the 2020 NECO Exam to be ware of people promising to supply the answers during the exam. All the answers to the questions are there with you, there is no other expo.

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NECO 2020 Financial accounting theory answers

The following has been proving itself very useful in time like this, follow it and and passing the NECO Financial Accounting Exam can never be a problem to you.

3a)
i)federal allocation share
ii)loans
iii)grants in aids
iv)licence of kiosk
v)tenement rate
vi)arket ticket fees
vii)registration of business
viii)pack ticket fees
ix)staff monthly tax
x)fees charged naming of streets

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

 SET TARGETS AND WORK HARD TO ACTUALISE IT: 

You have decided to pass NECO Accounting 2019 and I am sure of that. Now, the next thing you should do is set targets.

You have told yourself, “I will score A in Neco Financial Accounting 2019”, that’s not all. You need to plan how to make it happen. Create a timetable and master plan to achieve your goals.

 GET FINANCIAL ACCOUNTING RECOMMENDED BOOKS FOR NECO 2020: 

Normally, Neco recommends books for the examination. But apart from neco literature in English where certain novels are compulsory, you are free to use any good Financial Accounting textbook to prepare for Neco History 2020 exam.

Some textbooks are more difficult to understand. If you have any topic you are finding difficult to understand, then get a textbook that will simplify the topics and make life better for you.

 DON’T SKIP ACCOUNTING EXAMPLES AND EXERCISES: 

Many candidates are fond of skipping exercises and even examples while studying textbooks. In fact, “we” loved notebooks so much that we could ask, “can I read my notebook and pass NECO Financial Accounting 2020?” Don’t be scared of attempting exercises in Financial Accounting. Face the challenges.

 SOLVE PROBLEMS IN NECO PAST QUESTIONS:

This is another factor that affects candidates success. Do not read Accounting past questions; answer past questions. Ensure to understand and solve each problem. If you find any question difficult while attempting the Financial Accounting past questions, then feel free to consult your book for broad knowledge about the topic

 TEST YOURSELF: 

This is very important. Once in a while, answer full one-year Financial Accounting past questions on your own without checking the answers. Then mark to see what you score. With this, your confidence is very sure for 2020 NECO Financial Accounting.

I hope the NECO Financial Accounting Exam will never be a problem to you after going through this wonderful article. NECO 2020/2021 Financial Accounting Answers and Questions Loading…

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