Jamb Accounts - Principles of Accounts Questions
Question 1091:
An increase in government expenditure within a year is taken care of by means of
- A Virement
- B Financial regulations
- C Supplementary estimate
- D Warrant
Question 1092:
A business organization prepares departmental account in order to
- A Asertian the contribution of each department to the organization
- B Ascertain interdepartmental transfer
- C Build other branches
- D Know the number of departments in the organization
Question 1093:
The objective of departmental account is to
- A Ascertain the amount of profits or losses for the enterprise
- B Ascertain the amount of profits or losses for each department
- C Ascertain the cost of running the organization
- D Offset the loss of each department
Question 1094:
Which of the following expenses relate to the profit and loss account of a manufacturing firm?
- A Administrative overhead
- B Direct labour
- C Direct materials
- D Work-in-progress
Question 1095:
The difference between book keeping and accounting is that while
- A Book keeping interprets data, accounting records it
- B Book keeping is regarded as the language of the business accounting ascertians its strength and weakness
- C Book keeping records data accounting interprets it
- D Book keeping summaries information accounting communicatesit