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Accounts - Principles of Accounts 2002 JAMB Past Questions

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11
The normal accounting entry to record the dishonor of a businessman is to?
  • A. debit cash book and credit suspense account
  • B. debit cash book and credit drawer
  • C. credit caah book and debit suspense account
  • D. credit cash book and debit drawer
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12
Use the information below to answer question . Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240 Current liabilities N20 Current assets N110 Fixed assets N140

Determine the value of the trade investment?
  • A. N8m
  • B. N10m
  • C. N15m
  • D. N20m
View Answer & Discuss JAMB 2002
13
Use the information below to answer question .

Statement of assets and liabilities as at 31st December, 2001.

Shareholders' interest N240

Current liabilities N20

Current assets N110

Fixed assets N140
What is the networking capital?
  • A. N90m
  • B. N70m
  • C. N100m
  • D. N80m
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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14
The concise statement used to explain entries in the general journal is known as?
  • A. narration
  • B. summary
  • C. information
  • D. commentary
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15
In a departmental accounting system, which of the following expenses will most likely be apportioned on the basis of turnover?
  • A. carriage outwards
  • B. carriage inwards
  • C. discounts received
  • D. returns outwards
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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