Join your school's WhatsApp group
NECO offline past questions - All questions, answers & explanations in one app 25712

Accounts - Principles of Accounts 1997 JAMB Past Questions

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

NECO offline past questions - All questions, answers & explanations in one app 25712
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1
The most important reason for studying accounting is that
  • A. the information provided by accounting is useful in making decision
  • B. Accounting plays an important role in the society
  • C. the study of Accounting leads to challeging career
  • D. Accounting provides gross profit information
View Answer & Discuss (1) JAMB 1997
2
In preparing accounting records, the owner of a business and the business are treated as
  • A. the same person
  • B. having business relationship
  • C. separate legal entities
  • D. partners
View Answer & Discuss JAMB 1997
3
Creditors use Accounting information for the purpose of
  • A. planning sales to a company
  • B. controlling a company's affairs
  • C. investing in a company
  • D. assessing a company's liquidity
View Answer & Discuss JAMB 1997
NECO offline past questions - All questions, answers & explanations in one app 25712
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
4
The instrument that are generated when firms enter into business transactions with others are called
  • A. purchase document
  • B. journals
  • C. source documents
  • D. invoices
View Answer & Discuss JAMB 1997
5
The document that is used to acknowledge the acceptance of the return of goods by the seller from the buyer is known as
  • A. credit note
  • B. debit note
  • C. invoice
  • D. voucher
View Answer & Discuss JAMB 1997
Start a Free Practice Test
 
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group