Accounts - Principles of Accounts Questions
Question 1306:
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. Using the reducing balance method, what us the net book value at the end of the year 2? (ignoring residual value)
- A N10,480
- B N10,080
- C N9,680
- D N9,600
- E N7,680
Question 1307:
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. The accumulated depreciation at the end of the year 3 using the straight line method is
- A N9,300
- B N9,000
- C N8,700
- D N6,900
- E N6,000
Question 1308:
Factory cost consists of
- A Direct material and factory overhead
- B Direct labour and direct expenses
- C Direct labour and factory overhead
- D Direct6 materials, direct labour, direct expenses and factory overhead
- E Direct expenses and factory overhead
Question 1309:
The term bad debt means
- A A debt written on bad receipts
- B Debt owed by a bad person
- C Debt that can not be collected
- D Overcharge on a debtors account
- E Debt paid with bad currency notes
Question 1310:
a subsidiary record is a book
- A Found in the ledger
- B Of subsidiary entries
- C Of original entry
- D Containing the final accounts
- E Of final entry