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JAMB Principles of Accounts 2014 Question 36

Question 36

Departmental Accounts

In a departmental account, where no basis of apportionment exist, apportionment is

  1. A.on profit basis.
  2. B.according to employee decision.
  3. C.according to material available.
  4. D.on equal basis.
Show the answer and explanation

Answer: D (on equal basis.)

Explanation

With no fair basis, the expense is shared equally.