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Question 3291

In the trading and profit and loss account of a manufacturing organization, purchases are?

Options

A)
always the same amount as the total factory overhead cost
B)
given separately
C)
equivalent to the total cost of goods manufactured
D)
always the same as the prime cost
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Question 3292

Expense paid during the conversion of a partnership to a company are

Options

A)
debited to the partners' capital account
B)
debited to the realization account
C)
debited to the cash account
D)
credited to the realization account
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Question 3293

Use the information to answer questions 334 and 35.

.........................Departments

...........................P..........Q...........R

Sales value...............N?........₦23,400....N?

Selling expenses..........₦1,100....₦1,400.....₦1,280

Administrative expenses...₦1,400....₦1,000.....₦1,020

Cost of sales.............₦6,900....₦6,700.....₦5,500

Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to ₦1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.

What is the sales value of department R?

Options

A)
₦7,800
B)
₦11,700
C)
₦23,400
D)
₦35,100
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Question 3294

Which of the following is incorrect? The amounts are arranged in the following order: Assets; Liabilities; Capital

Options

A)
₦7850; ₦1250; ₦6600
B)
₦8200; ₦2800; ₦5400
C)
₦9550; ₦1150; ₦8200
D)
₦6540; ₦1120; ₦5420
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