Jamb Accounting Past Questions For Year 2006
Question 31
Departmentalization of accounts is useful because it shows the?
- A. overall performance of a firm
- B. price per unit of a product
- C. cost per unit of a product
- D. overall performance of a division
Question 32
Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
Interest on the drawings of partners is treated in the?
- A. profit and loss appropriation account
- B. goodwill account
- C. profit and loss account
- D. trading account
Question 33
Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
The factory overhead is?
- A. N5050
- B. N7250
- C. N2750
- D. N5500
Question 34
Stock 1/1/2002..................................N40 000
Goods received from head office.................N800 000
Goods returned to head office...................N34 000
Sales...........................................N916000
Stock 31/12/2000................................N72 000
From the data above determine the cost of goods credited to the head office trading account.
- A. N766 000
- B. N840 000
- C. N734 000
- D. N806 000
Question 35
In converting a to a partnership company, the loss on asset revaluation is?
- A. debited to the revaluation account
- B. debited to the profit and loss account
- C. credited to the revaluation account
- D. credited to the profit and loss account
