Accounts - Principles of Accounts Questions
Question 201:
Manufacturing costs can be classified based on?
- A Timing of charges degree of averaging and size of capital
- B Degree of averaging, ease of traceability and timing of charges
- C Degree of averaging, size of floor space occupied and cost accounts
- D Number of employees, timing of charges and management style
Question 202:
The difference between the factory cost of production and the prime cost of production is?
- A Direct materials
- B Direct labour
- C Selling expenses
- D Overhead
Question 203:
Receipt and payments account of a non-profit making organization is principally a summary of the?
- A Bak entries
- B Cash bok entries
- C Expenditure entries
- D Balance sheet entries
Question 204:
Given:<br/>Club N150<br/>Cash sales N4,850<br/>Club debtors at close N900<br/>Cash received from debtors N550<br/>What is the amount of club sales?
- A N6,150
- B N4,850
- C N4,650
- D N1,300
Question 205:
A credit balance on a receipt and payments account indicates that the non-profit making organization?
- A Had more revenues than expenses during the period
- B Did not owe much liabilities during the period
- C Received more cash than it paid out during the period
- D Made more cash payments than it received during the period