2019 - JAMB Accounting Past Questions and Answers - page 7
61
Which of the following is not charged to manufacturing account?
A
Direct expenses
B
Factory wages
C
Distribution expenses
D
Raw materials
62
Which of the following cannot depreciate?
A
plant and machinery
B
motor van
C
premises
D
land
63
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?
A
₦5,120
B
₦6,400
C
₦8,000
D
₦12,500
64
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
65
The instrument isued by the Minister who authorized an officer to incure expenditure is a/an
A
warrant
B
budget
C
imprest
D
consolidated fund
66
One of the objectives of maintaining the account of a branch at the head office is to
A
to access the performance of the branches
B
check the excesses of customers
C
record charges in shareholdings
D
record charges in liabilities
67
A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
A
₦20,000
B
₦6,000
C
₦6,174
D
₦10,000
68
The objective of departmentalization is to
A
ensure that departmental managers are adequately monitored
B
record transactions for each department for better documentation
C
tackle any recording problem as a result of expansion
D
evaluate the profit of different departments
69
Discount received is apportioned to each department on the basis of
A
Floor area
B
Turnover
C
Purchases
D
Horse power
70
Given:
Fixed assets Liabilities Current assets |
₦ 55,000 20,000 13,000 |
What is the capital?
A
₦88,000
B
₦48,000
C
₦62,000
D
₦55,000
Loading lesson…