Jamb Accounts - Principles of Accounts Questions - Nature and Significance of Book keeping and Accounting
Question 206:
The manufacturing account is prepared to ascertain
- A Cost of goods sold
- B Cost of production
- C Gross profit
- D Finished goods
Question 207:
Which of the following is not charged to manufacturing account?
- A Direct expenses
- B Factory wages
- C Distribution expenses
- D Raw materials
Question 208:
Which of the following cannot depreciate?
- A Plant and machinery
- B Motor van
- C Premises
- D Land
Question 209:
An officer that is charged with the responsibility of carrying out investigations on the book of accounts to show the true and fair view is
- A Ministry of Finance
- B Accountant General
- C Revenue office
- D Auditor General
Question 210:
One of the limitations of accounting is that
- A It ascertain financial position
- B It prevent fraud
- C Transactions are recorded in monetary terms
- D It monitor the progress of the enterprise