Principle of Accounting 2016 | Study Mode

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Question 41
A
Administrative overhead
B
Direct labour
C
Direct materials
D
Work-in-progress
Explanation

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Correct option: A
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Question 42
A
book keeping interprets data, accounting records it
B
book keeping is regarded as the language of the business accounting ascertians its strength and weakness
C
book keeping records data accounting interprets it
D
book keeping summaries information accounting communicatesit
Explanation

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Correct option: C
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Question 43
A
Saka's account and credit discount received account
B
Alaka's account and credit discount received account
C
Discount received account and credit Alaka's account
D
Discount allowed account and credit Alaka's account
Explanation

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Correct option: A
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Question 44
A
N11,000
B
N7,000
C
N4,000
D
N24,000
Explanation

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Correct option: C
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Question 45
A
N5,200
B
N6,500
C
N8,800
D
N4,400
Explanation

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Correct option: A
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Question 46
A
N37,000
B
N36,000
C
N35,000
D
N40,500
Explanation

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Correct option: C
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Question 47
A
N30,200
B
N30,000
C
N25,000
D
N31,200
Explanation

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Correct option: C
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Question 48
A
facilitiate human satisfaction through exchange
B
eliminate trade barriers
C
provide raw materials for manufacturers
D
influence government policies
Explanation

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Correct option: A
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Question 49
A
Prime cost
B
Explicit cost
C
Average cost
D
Implicit cost
Explanation

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Correct option: B

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