POST-UTME Accounting Past Questions, Answers & Explanations - Accounts - Principles of Accounts

Post Utme Accounts - Principles of Accounts Questions

Question 181:

Tunde purchased goods from Femi by cash worth #1,000 with 10% cash discount. Tunde's purchases ledger control account is to be

Question 182:

Given: Direct material #10,000, Direct labour #5,000, Direct expenses #2,000, Factory overhead #4,000. What is the prime cost?

Question 183:

Which of the following is a source of revenue to a local government authority?

Question 184:

The sum of money given to a petty cashier out of which small payments are made is called

Question 185:

Interest on drawings is debited to the partner's

A Partner's current account and credited to the profit and loss account.
B Profit and loss appropriation account and credited to the partner's current account
C Profit and loss account and credited to the partner's account
D Partner's current account and credited to the profit and loss appropriation account