JAMB Accounting 2011 Objective — Question 28

Question 28 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.

Work-in-progress is the

A. A. value of finished goods on hand
B. B. value of partly finished goodsCorrect
C. C. sales less cost of goods sold
D. D. value of goods produced

Explanation

Work-in-progress refers to goods which have been processed but not yet finished for consumption, i.e. the value of partly finished goods.

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