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

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

All JAMB WAEC

Question 1· Branch and departmental accounts· WAEC
Goods invoiced to a branch at ₦15,000 include a mark-up of 50% on cost. The cost of the goods is
Explanation and discussion
Question 2· Branch and departmental accounts· WAEC
In branch accounts, the goods sent to branch account is closed by transfer to
Explanation and discussion
Question 3· Branch and departmental accounts· JAMB
In departmental accounts, the wages of staff who work in only one department are charged to
Explanation and discussion
Question 4· Branch and departmental accounts· WAEC
In departmental accounts, the salary of the general manager is best shared on the basis of
Explanation and discussion
Question 5· Branch and departmental accounts· JAMB
Transfers of goods between departments are recorded in order to
Explanation and discussion
Question 6· Branch and departmental accounts· JAMB
Goods sent by head office to a branch but not yet received at the year end are
Explanation and discussion
Question 7· Branch and departmental accounts· JAMB
The branch stock adjustment account records
Explanation and discussion
Question 8· Branch and departmental accounts· WAEC
Branch accounts help the head office to
Explanation and discussion
Question 9· Branch and departmental accounts· WAEC
Head office sends goods costing ₦10,000 to a branch at cost plus 25%. The invoice price is
Explanation and discussion
Question 10· Branch and departmental accounts· JAMB
In branch accounts, goods sent to branch are recorded at cost price or
Explanation and discussion
Question 11· Branch and departmental accounts· WAEC
Rent of ₦60,000 is shared between departments A and B by floor area of 400 m² and 200 m². Department A's share is
Explanation and discussion
Question 12· Branch and departmental accounts· WAEC
Rent of a store may be shared among departments on the basis of
Explanation and discussion
Question 13· Branch and departmental accounts· WAEC
The goods sent to branch account records
Explanation and discussion
Question 14· Branch and departmental accounts· JAMB
Lighting costs shared among departments are best apportioned by
Explanation and discussion
Question 15· Branch and departmental accounts· WAEC
Electricity shared between departments is best apportioned using
Explanation and discussion
Question 16· Branch and departmental accounts· JAMB
Under the branch stock system, goods sent by head office to a branch are credited to the
Explanation and discussion
Question 17· Branch and departmental accounts· JAMB
Rent of a departmental store is usually shared among departments on the basis of
Explanation and discussion
Question 18· Branch and departmental accounts· JAMB
A branch that keeps its own full set of books is
Explanation and discussion
Question 19· Branch and departmental accounts· WAEC
Rent of ₦120,000 is shared between departments A (300 m²) and B (200 m²) by floor area. Find A's share.
Explanation and discussion
Question 20· Branch and departmental accounts· WAEC
Goods sent to a branch at cost plus 25%. If goods invoiced at ₦50,000 were sent, the cost was
Explanation and discussion

Practise Accounts (Principles of Accounts) like the real exam. A timed CBT, your score, and the topics to fix.

Start a Accounts (Principles of Accounts) test

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

Goods invoiced to a branch at ₦15,000 include a mark-up of 50% on cost. The cost of the goods is

In branch accounts, the goods sent to branch account is closed by transfer to

In departmental accounts, the wages of staff who work in only one department are charged to

In departmental accounts, the salary of the general manager is best shared on the basis of

Transfers of goods between departments are recorded in order to

Goods sent by head office to a branch but not yet received at the year end are

The branch stock adjustment account records

Branch accounts help the head office to

Head office sends goods costing ₦10,000 to a branch at cost plus 25%. The invoice price is

In branch accounts, goods sent to branch are recorded at cost price or

Rent of ₦60,000 is shared between departments A and B by floor area of 400 m² and 200 m². Department A's share is

Rent of a store may be shared among departments on the basis of

The goods sent to branch account records

Lighting costs shared among departments are best apportioned by

Electricity shared between departments is best apportioned using

Under the branch stock system, goods sent by head office to a branch are credited to the

Rent of a departmental store is usually shared among departments on the basis of

A branch that keeps its own full set of books is

Rent of ₦120,000 is shared between departments A (300 m²) and B (200 m²) by floor area. Find A's share.

Goods sent to a branch at cost plus 25%. If goods invoiced at ₦50,000 were sent, the cost was