2019 - JAMB Accounting Past Questions and Answers - page 7
Which of the following is not charged to manufacturing account?
Direct expenses
Factory wages
Distribution expenses
Raw materials
Which of the following cannot depreciate?
plant and machinery
motor van
premises
land
A machine cost ₦12,500 it will be kept for 4 years and then sold at a scrap value of ₦5,120. Using the diminishing balance method, what is the amount of depreciation for second year?
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
Ministry of Finance
Accountant General
Revenue office
Auditor General
The instrument isued by the Minister who authorized an officer to incure expenditure is a/an
warrant
budget
imprest
consolidated fund
One of the objectives of maintaining the account of a branch at the head office is to
to access the performance of the branches
check the excesses of customers
record charges in shareholdings
record charges in liabilities
A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
₦20,000
₦6,000
₦6,174
₦10,000
The objective of departmentalization is to
ensure that departmental managers are adequately monitored
record transactions for each department for better documentation
tackle any recording problem as a result of expansion
evaluate the profit of different departments
Discount received is apportioned to each department on the basis of
Floor area
Turnover
Purchases
Horse power
Given:
Fixed assets Liabilities Current assets |
₦ 55,000 20,000 13,000 |
What is the capital?
₦88,000
₦48,000
₦62,000
₦55,000
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