Use the following information to answer the given question Which of the following is not classified as an overhead? A factory rates B factory power C factory building extension D factory depreciation Answer is C
Use the following information to answer the given question Rent expenses for the year 2005 is A ₦11,400 B ₦11,300 C ₦11,200 D ₦10,200 Answer is C
Use the following information to answer the given question The balance as per bank statement is A D10,900 B D8,400 C D5,600 D D2,800 Answer is B
Use the following information to answer the given question The adjustment cash book balance is A D11,200 B D8,400 C D6,200 D D5,600 Answer is D
Which of the following is not a purpose for preparing departmental accounts? To A compare the results of different departments B employ staff into different departments C reward departmental managers D obtain information for formulating policies Answer is B
Which of the following is a journal as well as an account? A sales day book B cash book C general journal D purchases journal Answer is C
Where the head office maintains all books of account, goods sent to branch is credited to A goods sent to branch account B branch stock account C branch stockk adjustment account D head office current account Answer is A
Which of the following columns of a three column cash book are memoranda? i. Discount ii. Discount allowed iii. Cash iv. Bank A i ans ii only B i and iii only C ii and iii only D iii and …
The amount allowed off the cost price of an article to stimulate patronage is A cash discount B trade discount C discount on debt D discount on bills Answer is B
Use the information to answer the given question. Cost of goods manufactured is A D138,000 B D131,800 C D130,500 D D123,500 Answer is A
Use the following information to answer the given question Motor vehicles(at cost) 1/1/2002₦1,000,000 Addition to motor vehicles 1/7/2003₦600,000 Depreciation rate 10% A ₦160,000 B ₦130,000 C ₦100,000 D ₦60,000 Answer is A
Using the reducing balance method, the depreciation charged for year 2002 was Motor vehicles(at cost) 1/1/2002₦1,000,000 Addition to motor vehicles 1/7/2003₦600,000 Depreciation rate 10% Using the reducing balance method, the depreciation charged for year 2002 was A ₦100,000 B ₦90,000 …