Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Accounts - Principles of Accounts 2006 JAMB Past Questions

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

Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
21
Adaobi mistakenly entered N7000 as credit sales in Abba's account. This is?
  • A. an error of principles
  • B. a compensating error
  • C. an error of commission
  • D. an error omission
View Answer & Discuss JAMB 2006
22
Use the information below to answer question

Capital.................................N60 000
Bank....................................N12 500
General expenses........................N5 250
Creditors...............................N17 000
Stock...................................N98 500
Fixed assets............................N42 000
Insurance and rates.....................N18 800
Purchase................................N63 850

What is the cash balance on the debit side if it is the only item omitted?
  • A. N6745
  • B. N6754
  • C. N6475
  • D. N6574
View Answer & Discuss (1) JAMB 2006
23
Use the information below to answer question

Capital.................................N60 000
Bank....................................N12 500
General expenses........................N5 250
Creditors...............................N17 000
Stock...................................N98 500
Fixed assets............................N42 000
Insurance and rates.....................N18 800
Purchase................................N63 850

Determine the total of the trial balance?
  • A. N123 325
  • B. N160 050
  • C. N166 525
  • D. N326 575
View Answer & Discuss JAMB 2006
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
24
Given:

Stock of raw materials 1/40............N11 150
Purchases of raw materials.............N112 550
Raw material returned..................N31 150
Stock of Raw materials 31/12/04........N27 150

Calculate the cost of raw materials consumed?
  • A. N156 000
  • B. N38 300
  • C. N183 150
  • D. N66 550
View Answer & Discuss (1) JAMB 2006
25
Use the information below were to answer questions

...................Stationary Dept.............Video Dept.
Sales ..............N10,600.....................N15,175
Cost of goods sold..N5,247......................N6704

The expenses incurred were rent N4500, motor repairs N1200 and telephone N900.
The basis of cost apportionment is 1/2 stationary 1/3 video.

Determine the net profit of the business?
  • A. N6600
  • B. N6271
  • C. N5353
  • D. N7224
View Answer & Discuss JAMB 2006
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
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now