Accounts - Principles of Accounts Questions
Question 2511:
which of the following is not an administrative expenses in a manufacturing organization?
- A Discounts allowed
- B Office electricity
- C Stationery
- D Insurance
Question 2512:
Which of the following items is not contained in the Receipts and Payments Account?
- A Subscription paid in advance
- B Stock paid for in advance
- C Outstanding wages and salaries
- D Donations
Question 2513:
The accounting concept underlying the treatment of personal expenses of the business owner as drawing is
- A Periodicity
- B Accrual
- C Entity
- D Materiality
Question 2514:
The sum of direct cost in a manufacturing account is
- A Production cost
- B Prime cost
- C Total cost
- D Finance cost
Question 2515:
When an asset is sold, the entries for the accumulated depreciation are; debit
- A Assets disposal account; credit provision for depreciation account
- B Provision for depreciation account; credit asset disposal account
- C Fixed asset account; credit asset disposal account
- D Asset disposal account; credit fixed asset account