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Accounts - Principles of Accounts Past Questions

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3146

Which of the following is not charged to manufacturing account?

  • A. raw materials
  • B. factory wages
  • C. direct expenses
  • D. distribution expenses
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3147

The authority to transfer fund from one head to another within the same organization is called

  • A. fund
  • B. warrant
  • C. vote
  • D. virement
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3148

Another name for control accounts is

  • A. total account
  • B. purchases ledger
  • C. creditors' account
  • D. debtors' account
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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3149

Which of the following concepts recognizes the principle of double entry?

  • A. business entity
  • B. accrual
  • C. going concern
  • D. dual aspect
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3150

Danladi Bako's Statement of Affairs as at 30/06/17

 

   

Capital ?? Fixtures and fittings 4,000
    Stock 20,500
    Sundry debtors 40,000

Creditors

18,000 Bank ??
  78,650   78,650

What is his bank balance as at 30/06/17?

  • A. ₦14,150
  • B. ₦18,500
  • C. ₦15,300
  • D. ₦65,150
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts