The instrument isued by the Minister who authorized an officer to incure expenditure is a/an
Warrant
Budget
Impurest
Consolidated fund
Correct answer is A
Warrant is the only authority through which money is expended in government.
Which of the following cannot depreciate?
Plant and machinery
motor van
Premises
Land
Correct answer is D
Land is permanent. It does not wear and tear. Rather it appreciates in value over time.
Which of the following is not charged to the manufacturing account?
Direct expenses
Factory wages
Distribution expenses
Raw materials
Correct answer is C
No explanation has been provided for this answer.
The manufacturing account is prepared to ascertain
Cost of goods sold
Cost of production
Gross profit
Finished goods
Correct answer is B
The manufacturing account forms an integral part of the revenue account of a manufacturing organization. It is prepared to know the cost of the goods manufactured or to ascertain the amount of any profit on the manufacturing process i.e the cost of production.