Accounts - Principles of Accounts Past QuestionsQuestion 271:A business is required at par when the? A. Purchase consideration equals goodwill B. Purchase consideration equals net value C. Purchase consideration is greater than the net value D. Net assets is greater than the liabilitties Question 272:Given: cash book item: Paid to suppliers N10,800 Expenses paid N6,900 Drawings made N900 Balances at start N15,750 Balances at end N3,870 Drawings from bank to shop N1,720 Determine the receipt from debtors? A. N22,470 B. N17,470 C. N8,440 D. N5,000 Question 273:Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General indirect expenses N726 lubricants N1235 Carriage inwards N829 Factory power N350 Bank charges N612 Carriage outwards N2,900 Determine the total factory overhead cost? A. N4,485 B. N5,256 C. N6,085 D. N6,556 Question 274:Yola Social Club Statement of Account 1998 financial year 31/12/98: Subscription in arrears N21,000 Subscription in advance N12,000 Receipt during 1999: Arrears 1998 N21,000 Dues 1999 N48,000 Advance 2000 N11,000 The subscription transferable to the income and expenditure account is? A. N48,000 B. N59,000 C. N60,000 D. N69,000 Question 275:The most appropriate basis for apportioning inventory holding cost among departments is to use the value of? A. Purchases B. Opening stock C. Closing stock D. Average stock |
|
| ||||||
Disclaimer All Views, Names, Acronyms, Trademarks, Expressed on this website are those of their respective owners. Please note that www.schoolngr.com is not affiliated with any of the institutions featured in this website. It is always recommended to visit an institutions or sources official website for more information. In the same vein, all comments placed here do not represent the opinion of schoolngr.com SCHOOLNGR - © 2020 - 2024 - Tayo Hammed | Terms Of Service | Copyright | Privacy Policy |