Use the information below to answer the question .

Goods worth #300 was transferred from department Q to P. Similarly, P’s total expenses for the period was #200.

Department P’s net profit was

• A. #2,500
• B. #2,800
• C. #3,000
• D. #5,200

Cost of rent as an expense can be apportioned to all department on the basis of:

• A. No of employees
• B. stock value
• C. space occupied
• D. wages

In the absence of a partnership deed, the act stipulates that____________

• A. An amount should be fixed as salaries for partners
• B. Profits and losses should not be shared equally
• C. Interest on partner
• D. Interest should not be allowed on partners drawings

Departmentalization of accounts is useful because it shows the____________

• A. Over all performance of a division
• B. Cost per unit of a profit
• C. Price per unit of a product
• D. Over all performance of a firm

The amount called in respect of a share but not paid before or on the date fixed for payment is referred to as:

• A. Call in advance
• B. call in arrears
• C. forfeiture
• D. shares

A partnership’s internal regulation are set out by________

• A. A constitution
• B. A law
• C. A deed
• D. An article

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

• A. Sales department
• B. Production department
• C. Purchase department
• D. Administration department

Transfers from the head office to branches are best carried out at__________

• A. Cost price
• B. Cost plus mark up
• C. Selling price
• D. Market price

Branch stock adjustment account is prepared at?

• A. Cost price
• B. new price
• C. invoice price
• D. normal price

Mrs. Okoro who lives in the riverine community of Rivers State makes her living through crabbing and fishing. This type of occupation is?

• A. commercial
• B. manufacturing
• C. service
• D. Extractive