Accounting Past Questions

Use the information below to answer question

 
Trading account for the year ended 31st December 2009

The office responsible for ascertaining whether all public expenditures and appropriations are in line with approved guidelines is the________

When goods are sent to branch at cost plus mark up, it means that the branch should sell at_____________

Use the information above to answer the question

 : The acid test ratio in the company is___________

Advertising expenses incurred on a product in a business organization should be charged to

What is the amount of capital employed?

An amount set aside to meet expenses whose value is not certain is a 

A reserve is an amount 

Use the following information to answer the question below

Nzemaman Local Government incurred the following expenditure in the year 2015. 

Construction of market stalls 120,000
Staff salaries-------------------    40,000
Purchase of stationery--------- - 9,000
Sinking of boreholes------------
Building of classrooms
Maintenance of vehicles 
Purchase of equipment

Capital expenditure for the local government is 

Use the following information to answer the question below

Nzemaman Local Government incurred the following expenditure in the year 2015. 

Construction of market stalls 120,000
Staff salaries-------------------    40,000
Purchase of stationery--------- - 9,000
Sinking of boreholes------------
Building of classrooms
Maintenance of vehicles 
Purchase of equipment 

Recurrent expenditure for the year is 

Which of the following is not a method of charging goods to the branch by its head office? 

The accounting entries when goods are sold on credit at the branch are debit 

A branch that keeps its own records prepares the records of transactions with the head office in the 

In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as  

The objective of a departmental accounts is to ascertain the 

When allotment of shares is made applicants for shares of a company become 

Use the following information to answer the question below

Use the following information to answer the question below

Opening stock---------2,300
Purchases-------------11,874
Sales--------------------18,600
Closing stock-----------3,600
Cost of goods sold---11,500

What is the rate of stock turnover?

Use the following information to answer the question below

Opening stock---------2,300
Purchases-------------11,874
Sales--------------------18,600
Closing stock-----------3,600
Cost of goods sold---11,500

The percentage of gross profit to sales is

Share premium is classified in the balance sheet as