Use the following information to answer the question
The health department of Banjul Local Government incurred the following expenditure in 2020:
| Le | |
|
Construction of hospital wards |
200,000 |
| Purchase of hospital beds | 20,000 |
| Purchase of stationeries | 15,000 |
| Salaries and wages | 60,000 |
| Purchase of drugs | 50,000 |
| Purchase of x-ray machine | 100,000 |
The recurrent expenditure for the year is
Le 370,000
Le 125,000
Le 320,000
Le 445,000
Correct answer is B
From the given information, the expenditures that are likely to be classified as recurrent expenditures are:
Purchase of stationeries: Le15,000
Salaries and wages: Le60,000
Purchase of drugs: Le50,000
To calculate the recurrent expenditure for the year, we add these amounts together:
Le15,000 + Le60,000 + Le50,000 = Le125,000
Therefore, the recurrent expenditure for the year is Le125,000.
Use the following information to answer the question
The health department of Banjul Local Government incurred the following expenditure in 2020:
| Le | |
|
Construction of hospital wards |
200,000 |
|
Purchase of hospital beds |
20,000 |
|
Purchase of stationeries |
15,000 |
|
Salaries and wages |
60,000 |
|
Purchase of drugs |
50,000 |
|
Purchase of x-ray machine |
100,000 |
The capital expenditure for the year is
Le125,000
Le320,000
Le370,000
Le455,000
Correct answer is B
From the given information, the expenditures that are likely to be classified as capital expenditures are:
Construction of hospital wards: Le200,000
Purchase of hospital beds: Le20,000
Purchase of x-ray machine: Le100,000
To calculate the capital expenditure for the year, we add these amounts together:
Le200,000 + Le20,000 + Le100,000 = Le320,000
Therefore, the capital expenditure for the year is Le320,000.
Which of the following has the ultimate control of a company?
Board of directors
Employees
Shareholders
Management
Correct answer is C
The ultimate controller, refers to the shareholder who has the ultimate control in the company and is not controlled by anyone. This ownership structure often results in a certain level of control between the ultimate controller and the listed company.
The main purpose of transaction file is
To record assets and liabilities
To update income and expenses
To make organization decision
To update master files
Correct answer is D
A transaction file is used to hold data during transaction processing. The file is later used to update the master file and audit daily, weekly or monthly transactions.