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Accounts - Principles of Accounts 2012 JAMB Past Questions

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36

Investment at cost of a company is to be disclosed under

  • A. trading accounts
  • B. profit and loss account
  • C. balance sheet
  • D. source and application of fund
View Answer & Discuss JAMB 2012
37

Purchasers - #44,880
Sales - #85,850
Trade creditors - #12,250
Trade debtors - #24,000
Accrued expenses - # 350
Prepaid expenses - # 700
Stock 1/1/2006 - #25,120
Stock 31/12/2006 - #27,840

Calculate the acid test ratio

  • A. 1:94:1
  • B. 1:96:1
  • C. 1:1:94
  • D. 1:1:96
View Answer & Discuss JAMB 2012
38

Purchasers - #44,880
Sales - #85,850
Trade creditors - #12,250
Trade debtors - #24,000
Accrued expenses - # 350
Prepaid expenses - # 700
Stock 1/1/2006 - #25,120
Stock 31/12/2006 - #27,840

Determine the number of times stock was turned over during the period to the nearest figure

  • A. 1
  • B. 2
  • C. 3
  • D. 4
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39

Which of the following is a source of revenue to the federation account?

  • A. Market fees
  • B. Bicycle licences
  • C. Tarrifs
  • D. Property rates
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40

The book into which all types of a ministry's expenditure are recorded is the

  • A. ledger book
  • B. payment book
  • C. vote book
  • D. expenditure book
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Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now