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Accounts (Principles of Accounts) · Branch and departmental accounts

Accounts (Principles of Accounts)Branch and departmental accountsJAMB

Goods are sent to a branch at cost plus 25%. Goods invoiced at ₦250,000 cost head office

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Answer: D. ₦200,000

Invoice = 125% of cost, so cost = 250,000 ÷ 1.25 = ₦200,000.

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