Jamb Accounts - Principles of Accounts Questions
Question 1351:
Advertising expenses incurred on a product in a business organization should be charged to
- A Production department
- B Purchases department
- C Sales department
- D Administrative department
Question 1352:
Four broad classifications of overheads are
- A Production, selling, distribution and administration
- B Production, selling, distribution and material
- C Selling, distribution and material
- D Distribution, selling, administration and materials
Question 1353:
Which of the following are advantages of departmental accounts?
- A The capital of the business can be calculated easily
- B Easy knowledge of the sources of funding
- C Encouragement of healthy rivalry among the various department
- D The department making the highest profit can be easily determined
Question 1354:
The debenture issued at par above the nominal value is Said to be issued at a
- A Margin
- B Premium
- C Cost price
- D Mark-up
Question 1355:
The standing order is a payment instruction given by a
- A Customer to a fellow customer
- B Bank to an employee
- C Customer to the bank
- D Bank to the customers