Jamb Accounts - Principles of Accounts Questions
Question 1401:
Factory overheads are also known as ____________
- A Direct manufacturing
- B Direct expenses
- C Indirect cost
- D Direct labour
Question 1402:
Which of the following has the ultimate control of a company?
- A Board of directors
- B Employees
- C Shareholders
- D Management
Question 1403:
The following are importance of branch account except ____________
- A It allows fraud and wastage of resources
- B It assist the organization to determine the performance of a branch manager
- C It enable the organization to determine the branch that is making either profit or loss
- D It allows proper control over the branch by the head office
Question 1404:
The use of three column cash book is determined by
- A Trade discount
- B Cash transaction
- C Bank transaction
- D Cash discount
Question 1405:
The authority warrant issued prior to the approval of the appropriate bill at the begining of the year
- A Contigencies
- B Reserved expenditure warrant
- C Annual general warrant
- D Provisional general warrant