Accounts - Principles of Accounts Past Questions and Answers

The major source of document which enables employer to calculate the employee wages is the?

A Norminal roll of employees
B Records of number of hours worked
C Effort of the employee
D Record of independence per employee

Question 1202:

The total credit sales for a period can be extracted from the?

A Cash book
B Sales day book
C Petty cash book
D Returns inwards

Question 1203:

A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of N9,000.

If the scrap value is presently N15,000, what will be the yearly depreciation using the straight line method?

A N4,000
B N7,000
C N11,000
D N24,000

Question 1204:

Mrs. Okoro who lives in the riverine community of Rivers State makes her living through crabbing and fishing. This type of occupation is?

A Commercial
B Manufacturing
C Service
D Extractive

Question 1205:

A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of N9,000.

The yearly depreciation using the straight line method would be

A N8,800
B N6,500
C N5,200
D N4,400