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WAEC Financial Accounting 2018 Question 45

Question 45

Departmental Accounts

The basis of apportionment of insurance on building in departmental accounts is

  1. A.floor space occupied by the department.
  2. B.purchase cost of the building.
  3. C.value of the building.
  4. D.number of offices in the building.
Show the answer and explanation

Answer: A (floor space occupied by the department.)

Explanation

Building costs are shared by floor area.