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JAMB Principles of Accounts 2013 Question 42

Question 42

Departmental Accounts

The objective of departmental account is to

  1. A.ascertain the cost of running the organization.
  2. B.ascertain the amount of profit or loss for each department.
  3. C.ascertain the amount of profits or losses for the enterprise.
  4. D.offset the loss of each department.
Show the answer and explanation

Answer: B (ascertain the amount of profit or loss for each department.)

Explanation

Departmental accounts show how much each department makes or loses.