JAMB Accounting 2010 Objective — Question 28
Question 28 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.
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28. The depreciation on a motor vehicle that is being used for manufacturing and administration is charged to the A. debit side of manufacturing and profit and loss account B. debit side of profit and loss account only C. credit side of profit and loss account only D. debit side of manufacturing account
- A. debit side of manufacturing and profit and loss accountCorrect
- B. debit side of profit and loss account only
- C. credit side of profit and loss account only
- D. debit side of manufacturing account
Explanation
Since the depreciation on the asset is shared between the manufacturing and administration department, it will be debited to each department's respective account.
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