Principles of Accounts 2012 | Study Mode

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Question 21
A
departmental account
B
trading acount
C
profit and loss account
D
balance sheet
Explanation

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Correct option: C
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Question 22
A
#64,000
B
#120,000
C
#360,000
D
#480,000
Explanation

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Correct option: B
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Question 23
A
#416,000
B
#304,000
C
#240,000
D
#184,000
Explanation

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Correct option: B
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Question 24
A
expenses are shared
B
gross profit is computed
C
net profit is computed
D
balance sheet is obtained
Explanation

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Correct option: A
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Question 25
A
profit and loss
B
revenue account
C
accumulated fund
D
income and expenditure acccount
Explanation

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Correct option: C
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Question 26
A
#10,000
B
#42,000
C
#45,000
D
#52,000
Explanation

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Correct option: D
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Question 27
A
debited to the head office current account
B
debited to the branch current account
C
credited to the head office current account
D
credited to the branch current account
Explanation

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Correct option: A
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Question 28
A
cost price
B
fixed percentage on cost
C
selling price
D
invoice price
Explanation

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Correct option: A
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Question 29
A
#62,000
B
#48,000
C
#44,000
D
#43,000
Explanation

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Correct option: B
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Question 30
A
3:5
B
1:2
C
2:5
D
1:5
Explanation

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Correct option: D

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