Post Utme Accounts - Principles of Accounts Questions
Question 176:
Given: Prime cost #220,000, Factory cost #32,000, Work in progress at beginning #25,000, Work in progress at close #19,000, Administrative expenses #21,000. Determine the production cost.
- A #277,000
- B #246,000
- C #258,000
- D #296,000
Question 177:
An analytical cash book is used to
- A Categorise petty cash payment
- B Separate cash and bank balance
- C Indicate sources of cash received
- D Analyse amounts due from debtors
Question 178:
Where a non-profit organization prepares the accounts using accrual basis of reporting, the statement showing how well the organization is doing is the
- A Balance sheet
- B Appropriation account
- C Income and expenditure account
- D Receipt and payment account.
Question 179:
Return inwards is also known as
- A Goods on sale or return
- B Goods in transit
- C Purchases returns
- D Sales returns
Question 180:
Ledger account is mainly classified into
- A Bank and cash accounts
- B Nominal, real and personal accounts
- C Fixed and current accounts
- D Management, financial and public sector accounting