Jamb Accounts - Principles of Accounts 2014 Past Questions and Answers

Question 31:

• JAMB 2014

In a departmental account, where no basis of apportionment exist, apportionment is

A. On profit basis
B. According to employee decision
C. According to material available
D. On equal basis

Question 32:

• JAMB 2014

In a departmental account, the expenses to be apportioned on the basis of turnover is

A. Carriage inwards
B. Returns outwards
C. Discount recieved
D. Carriage outwards

Question 33:

• JAMB 2014

If goods are sent to to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of #100,000?

A. #130,000
B. #125,000
C. #80,000
D. #75,000

Question 34:

• JAMB 2014

Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
What is the cost price of the goods sent to the branch

A. #600,000
B. #620,000
C. #640,000
D. #700,000

Question 35:

• JAMB 2014

Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
Determine the profit on the goods sent to the branch at profit margin of 25% mark-up

A. #150,000
B. #160,000
C. #170,000
D. #180,000