The concept which seeks to prevent profits from being overstated is 

Use the following information to answer question below

April 11:Sold goods for cash N50,000 
April 20: Bought goods for cash N30,000
April 26: Bought postage stamp N5,000 
April 28: Cash sales N49,000
April 29: Cash purchases N11,000 
April 30: Paid salaries N18,000 

Total cash receipts for the period is 

Use the following information to answer the question below

April 11: Sold goods for cash N50,000 
April 20: Bought goods for cash N30,000
April 26: Bought postage stamp N5,000 
April 28: Cash sales N49,000
April 29: Cash purchases N11,000
April 30: Paid salaries N18,000

The cash balance at the end of the period is

Goodwill is recognized in partnership when 

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is