Jamb Accounting Past Questions For Year 2011
Question 26
The cost that are directly traceable to the the goods being produced is?
- A. party manufactured goods
- B. overhead cost
- C. total factory expenses
- D. prime cost
Question 27
Calculate the net profit?
- A. N1 620
- B. N1 920
- C. N1 420
- D. 2 120
Question 28
The cost method of charging goods to branch is used where?
- A. branch stock adjustment account is in use
- B. the retention of branch trading account is in addition to the cost of goods sold
- C. goods are sent without invoice or any source documents
- D. goods are of a perishable nature on which a pre-determined price is inapplicable
Question 29
The transactions relating to liquidation in partnership account is drawn by using?
- A. current account
- B. cash account
- C. capital account
- D. realization account
Question 30
The major objective of departmental accounts is to ascertain the?
- A. contribution of each department to profit
- B. materials sold in each department
- C. insurance premium payable on employees
- D. number of employees in each department
