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Accounts - Principles of Accounts
JAMB 2014
Accounts - Principles of Accounts 2014 JAMB Past Questions
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31
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
View Answer & Discuss
JAMB 2014
32
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
View Answer & Discuss
JAMB 2014
33
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
View Answer & Discuss
JAMB 2014
34
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
View Answer & Discuss
JAMB 2014
35
In the absence of a partnership deed, the act stipulates that
A.
an amount should be fixed as salary for partners
B.
interest on partners loan should be 25%
C.
interest should not be allowed on partners drawings
D.
profits and losses should not be shared equally
View Answer & Discuss (2)
JAMB 2014
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