The document making a public offer for he sale of a company's share is
Memorandum of association
Articles of association
Prospectus
Certificate of registration
Correct answer is C
No explanation has been provided for this answer.
The purchase of a typewriter for office use for ₦2,000 is debited to
Creditors
Bank account
Purchases account
Equipment account
Correct answer is D
No explanation has been provided for this answer.
Which of the following does not appear in a bank statement?
Dividend received
Bank charges
Uncredited cheques
Dishonoured cheques
Correct answer is C
No explanation has been provided for this answer.
Cost of extension to a factory building is classified as
Capital receipt
Revenue expenditure
Capital expenditure
Revenue receipt
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not part of factory overhead?
Factory salaries
Factory lighting and heating
Depreciation of plant and machinery
Depreciation of furniture and fixtures
Correct answer is D
Factory overhead is the total cost involved in operating all production facilities of a manufacturing business that cannot be traced directly to a product. It has to do with indirect labor and cost.
Examples are;
Furniture and fixtures are office expenses and are not involved in the production phase.