Accounts - Principles of Accounts 2001 JAMB Past Questions

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The current growth in the volume of trading and financial dealings in Nigeria is helped by?

A. increased financial activities
B. government intervention
C. credit as a factor in business
D. payment for goods in cash

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Cost accounting entails the provision of information?

A. for investment purposes
B. for descision making
C. to shareholders
D. to stockholders

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The main objective of accounting report is to provide information about?

A. a company's shareholding
B. an entity's management
C. the efficacy of assets
D. a company's economic resources

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If liabilities amounted to N12,045, other assets N36,800and equity N26,896, the cash at hand would be?

A. N2,241
B. N2,214
C. N2,141
D. N2,114

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Use the information below to answer question.
Given:

Fixed assets N85,600
Sales N197,000
Stock N34,300
Salaries N37,000
Purchases N127,700
Share capital N120,000
Creditors N16, 050
Motor expenses N10,500
Debtors N25,000

What is the cash balance?

A. N12,095
B. N12,590
C. N12,905
D. N12,950

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