Accounts - Principles of Accounts Questions
Question 1271:
A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
- A ₦20,000
- B ₦6,000
- C ₦6,174
- D ₦10,000
Question 1272:
The objective of departmentalization is to
- A Ensure that departmental managers are adequately monitored
- B Record transactions for each department for better documentation
- C Tackle any recording problem as a result of expansion
- D Evaluate the profit of different departments
Question 1273:
Discount received is apportioned to each department on the basis of
- A Floor area
- B Turnover
- C Purchases
- D Horse power
Question 1274:
Given:<br/><table class='tbn'><tbody><tr><td> Fixed assetsLiabilitiesCurrent assets </td><td> ₦55,00020,00013,000 </td></tr></tbody></table><br/><br/><br/>What is the capital?
- A ₦88,000
- B ₦48,000
- C ₦62,000
- D ₦55,000
Question 1275:
One of the limitations of accounting is that
- A It ascertain financial position
- B It prevent fraud
- C Transactions are recorded in monetary terms
- D It monitor the progress of the enterprise