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Question 1
A company had opening inventory of 4,500,000 FCFA, purchases of 28,000,000 FCFA, carriage inwards of 800,000 FCFA, and closing inventory of 5,300,000 FCFA. If sales revenue was 40,000,000 FCFA, what is the gross profit for the period?
Correct Answer:
12,000,000 FCFA
Question 2
A manufacturing business presents the following data: Raw materials consumed = 18,500,000 FCFA; Direct factory wages = 12,200,000 FCFA; Royalties paid on production = 1,300,000 FCFA; Factory rent and rates = 4,000,000 FCFA; Factory machinery depreciation = 2,500,000 FCFA. What is the Prime Cost of the business?
Correct Answer:
32,000,000 FCFA
Question 3
In a manufacturing entity, Prime Cost is 45,000,000 FCFA and Factory Overheads are 18,000,000 FCFA. Opening Work-in-Progress was 3,200,000 FCFA and Closing Work-in-Progress is 4,700,000 FCFA. What is the Factory Cost of Production?
Correct Answer:
61,500,000 FCFA
Question 4
A firm manufactures finished goods at a cost of 50,000,000 FCFA and transfers them to the sales warehouse at factory cost plus a 20% manufacturing markup. At year-end, 15% of these goods remain unsold in closing inventory. What is the provision for unrealized profit on closing inventory?
Correct Answer:
1,500,000 FCFA
Question 5
A partner's capital account is 10,000,000 FCFA and current account has a credit balance of 1,500,000 FCFA. The partnership agreement provides 6% interest per annum on capital, an annual partner salary of 2,400,000 FCFA, and 5% interest charged on drawings. If the partner withdrew 3,000,000 FCFA during the year (with 150,000 FCFA interest on drawings) and their share of residual profit is 1,800,000 FCFA, what is the closing balance of the current account?
Correct Answer:
3,150,000 FCFA
Question 1
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Prepare with the Cameroon GCE A-Level Accounting Practice Questions - Cameroon General Certificate of Education Advanced Level - Accounting (Subject Code 0705) Exam practice quiz. This question bank includes 100 questions covering fcfa, profit, account, company, and sales. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Cameroon GCE A-Level Accounting Practice Questions - Cameroon General Certificate of Education Advanced Level - Accounting (Subject Code 0705) Exam

This practice set contains 100 questions from the matching question bank and focuses on fcfa, profit, account, company, and sales. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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