The process of cost apportionment is carried out so that
Indirect costs may be controlled
Cost units could gather overhead as they pass through cost centres
Variable costs may be controlled
Common costs are shared among cost centres
Correct answer is D
Cost apportionment is the sharing of commonly incurred expenses proportionately where two or more cost centres are involved
Appreciation
Amortization
Provisions
Depreciation
Correct answer is D
Depreciation is the reduction in the service potential of an asset as a result of wear and tear.
N1,605
N875
N2,450
N1,300
Correct answer is B
The imprest system is a form of financial accounting system. The most common imprest system is the petty cash system. The base characteristic of an imprestsystem is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.
450 + 250 +175 = 875
the imprest will be reimbursed with the amount that was spent which is 875
N2
N0.80
N0.60
N0.50
Correct answer is D
No explanation has been provided for this answer.
Use the following information to answer this question.
N2,800
N1,000
N2,500
N3,000
Correct answer is B
Being that debtors balance minus bad debt written off multiplied by 10% and subtracted from the initial provision
28000 – 3000 = 25,000 X 10% = 2500
:. 2500 – 1500 = 1,000 (increase in provisions)