Accounts - Principles of Accounts Past Questions and Answers

Which of the following are advantages of departmental accounts?
I. The department making the highest profit can be easily determined
II. The capital of the business can be calculated easily
III. Easy knowledge of the sources of funding
IV. Encouragement of healthy rivalry among the various departments

Which of the following entries is effected by a department when goods are charged to it at selling prices?

The best method of allocating expenses among departments is to?

The depreciation to be charged to department T is ?

A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?