Jamb Accounts - Principles of Accounts Questions
Question 731:
Expenditure incurred on consumables and goods for resale is?
- A Revenue expenditure
- B Capital expenditure
- C Sunk cost
- D Miscellanous expenses
Question 732:
Replacement and renewal of fixed assets are?
- A Revenue receipt
- B Capital receipt
- C Capital expenditure
- D Revenue expenditure
Question 733:
Which of the following is credited to the consolidated revenue fund?
- A Recurrent expenditure
- B Capital expenditure
- C Transfer to revenue fund
- D International revenue
Question 734:
One of the reasons for the existence of the public sector is to?
- A Take adequate care of the needy
- B Supplement the commercial sector
- C Provide cheap services to all citizens
- D Correct perceived inequalities
Question 735:
If the gross profit margin is 10% of sales, what is the value of the cost of goods sold?
- A N10,000
- B N90,000
- C N105,600
- D N110,000