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JAMB and WAEC Accounts (Principles of Accounts) questions: Branch and departmental accounts

29 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAccounting concepts and conventions · 35Accounts of not-for-profit organisations · 29Accruals, prepayments and provisions · 34Bank reconciliation statements · 31Branch and departmental accounts · 29Company accounts · 33Control accounts · 30Depreciation of non-current assets · 34Double entry and the ledger · 38Final accounts of a sole trader · 39Incomplete records · 31Manufacturing accounts · 29Nature and purpose of accounting · 29Partnership accounts · 34Petty cash and the imprest system · 26Public sector accounting · 30Source documents and books of original entry · 30The cash book and discounts · 33The trial balance and errors · 35

  1. Question 21· Branch and departmental accounts· WAEC

    Expenses that cannot be traced to a particular department are shared

    Explanation and discussion

  2. Question 22· Branch and departmental accounts· JAMB

    Expenses that cannot be traced to particular departments are

    Explanation and discussion

  3. Question 23· Branch and departmental accounts· JAMB

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

    Explanation and discussion

  4. Question 24· Branch and departmental accounts· WAEC

    Departmental accounts are prepared mainly to

    Explanation and discussion

  5. Question 25· Branch and departmental accounts· JAMB

    Advertising expenses are commonly shared among departments in proportion to

    Explanation and discussion

  6. Question 26· Branch and departmental accounts· WAEC

    In the head office books, goods sent to a branch are recorded by

    Explanation and discussion

  7. Question 27· Branch and departmental accounts· JAMB

    When goods are sent to a branch at selling price, the mark-up is held in the

    Explanation and discussion

  8. Question 28· Branch and departmental accounts· WAEC

    Departmental accounts help management to

    Explanation and discussion

  9. Question 29· Branch and departmental accounts· WAEC

    A branch that keeps its own full set of books is called

    Explanation and discussion

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