Results
#1. Which of the following is an example of factory overheads?
#2. The term used to denote the capital of a not-for-profit making organization is
#3. Opening Stock + Purchases + Carriage inwards is equal to
#4. Osa started business with Le40, 000 cash. The accounting entry is debit
#5. The Sales Ledger Control Account is also referred to as
#6. The concept which establishes the rule for the periodic recognition of revenue as soon as it is capable of objectives
#7. The double entry to record the proceeds on disposal of assets is debit
#8. Which of the following is credited to a partnership appropriation accounts?
#9. The manufacturing account is prepared to determine the cost of
#10. Factory costs excluding prime cost is
#11. Which of the following is a Trading Account item?
#12. An underwriter for a company’s share is paid
#13. The equivalent of Income and Expenditure Account in a trading concern is
#14. A sales Day Book is used for recording
#15. Which of the following is not an item in the profit and loss account?
#16. Which of the following concept is expected to hold when a proprietor makes a drawing of goods or cash from the business?
#17. The objectives of accounting information is to enable users to
#18. Which of the following is not prepared by a partnership?
#19. Which of the following is not the purpose of control account?
#20. The portion of authorized capital that has been allotted to subscriber is
#21. Which of the following is not a Nominal Account?
#22. Which of the following is a book of original entry?
#23. Financial accounting information is for
#24. Which of the following is a component of prime cost?
#25. Partners salary is shown in the
#26. Which of the following is not a real account?
#27. The addition of prime cost factory overheads is
#28. An example of direct expense is
#29. Which of the following is not revenue to a local government?
#30. Which of the following is not found in the personal ledger?
#31. A balance sheet is prepared
#32. Capital receipt is collected
#33. Which of the following is an intangible asset?
#34. A partner who only makes capital contribution but does not take part in the management of partnership business is a/an
#35. Share of #3 nominal value were issued at a price of #4. The different of #1 is a
#36. An example of capital gain is
#37. Which of the following is the least liquid?
#38. Which of the following is NOT shown in the trial balance?
#39. Trade discounts are given for
#40. A fixed asset fully written – down by a trader is now considered to be worth #5,000. The double entry required to effect this is: debit
