Accounts - Principles of Accounts Past Questions and Answers

If goods are sent to to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of #100,000?

A #130,000
B #125,000
C #80,000
D #75,000

Question 967:

Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
What is the cost price of the goods sent to the branch

A #600,000
B #620,000
C #640,000
D #700,000

Question 968:

Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
Determine the profit on the goods sent to the branch at profit margin of 25% mark-up

A #150,000
B #160,000
C #170,000
D #180,000

Question 969:

In the absence of a partnership deed, the act stipulates that

A An amount should be fixed as salary for partners
B Interest on partners loan should be 25%
C Interest should not be allowed on partners drawings
D Profits and losses should not be shared equally

Question 970:

The profit of a branch is usually credited to the

A Adjustment account
B Head office sales
C Head office goods account
D Head office current account