Question 5 5 Not yet answered Marked out of 1.0 Flag question An aircraft requires a planned overhaul each year at a cost of GHS5,000. This is a condition of being allowed to fly. How should the cost of the overhaul be treated in the financial statements? T ( a. Provided for in advance and charged to maintenance expenses b. Accrued for over the year and charged to maintenance expenses C. Capitalised and depreciated over the period to the next overhaul d. Charged to profit or loss when the expenditure takes place Question 7 Not yet answered Marked out of 1.0 P Flag question Which of the following is not a revenue receipt? a. Entrance fees by new members ob. Loan from a bank C. Subscription received d. Proceeds from the sale of a motor Time left 0:33:20 Question 58 Not yet answered Marked out of 1.0 p Flag question Which of the following is not a source of income for a not for profit making entity? a. Donations ( b. Grants C. Sales d. Entrance fees Question 35 Not yet answered Marked out of 1.0 Flag question Which of the following is not a contributory factor towards faithful representation? O a. Freedom from error O . b. Predictive value C. Neutrality O d. Completeness Question 21 Not yet answered Marked out of 1.0 Flag question Which of the following expenses constitute prime cost? I. Direct labour cost; II. Manufacturing wages; III. Hiring of machine for production; IV. Warehouse rent