Accounts - Principles of Accounts Past Questions

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381

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

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382

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

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383

Discounts granted branch customers are treated as a debit to branch?

A. stock account and a credit to branch debtors'account
B. discount account and a credit to branch bank account
C. stock account and a credit to branch bank account
D. discount account and a credit to branch debtors' account

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384

Transfers from the head office to branches are best carried out at?

A. cost price
B. selling price
C. cost plus mark-up
D. market price

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385

On dissolution, the final distribution of cash to partners is based on?

A. patnership agreement
B. Articles os asssociation
C. goodwill
D. capital balances

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