Departmental Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 16:

• JAMB 2004

A rapidly growing business organization with multiple units that is interested in comparing the performances and weaknesses of each unit should adopt?

A. Manufacturing accounts
B. Consolidated accounts
C. Departmental accounts
D. Joint venture accounts

Question 17:

• JAMB 2004

How are credit sales by a department treated?

A. The same way as normal debtors' transactions
B. In a different way from normal debtors' transactions
C. As an addition to the production manager's account
D. As an addition to the production managers' account

Question 18:

• JAMB 2004

What is the net profit made by department S?

A. N3,600
B. N,3000
C. N2,400
D. N2,000

Question 19:

• JAMB 2004

The depreciation to be charged to department T is ?

A. N30P00
B. N400
C. 500
D. N600

Question 20:

• JAMB 2004

The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.
The amount withdrawn is

A. N2,100
B. N2,200
C. N4,400
D. N6,400