Jamb Accounts - Principles of Accounts Questions
Question 66:
The instrument isued by the Minister who authorized an officer to incure expenditure is a/an
- A Warrant
- B Budget
- C Imprest
- D Consolidated fund
Question 67:
One of the objective of maintaining the account of a branch at the head office is to
- A To access the performance of the branches
- B Check the excesses of customers
- C Record charges in shareholdings
- D Record charges in liabilities
Question 68:
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 69:
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 70:
Discount received is apportioned to each department on the basis of
- A Floor area
- B Turnover
- C Purchases
- D Horse power