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Accounts - Principles of Accounts 2017 JAMB Past Questions

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NECO offline past questions - All questions, answers & explanations in one app 25712
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1
Which of these accounts is dissolution expenses credited?
  • A. partners capital account
  • B. revaluation account
  • C. partners current account
  • D. Realization account
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2
Capital for a profit making organization is generated through
  • A. Subscription
  • B. shares
  • C. donation
  • D. gift
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3
The account where the profit are distributed to the partner in their profit sharing ratio in partnership
  • A. trading account
  • B. appropriation account
  • C. balance sheet
  • D. profit and loss account
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NECO offline past questions - All questions, answers & explanations in one app 25712
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
4
In manufacturing account, depreciation of office machine is charged to
  • A. trading account
  • B. appropriation account
  • C. balance street
  • D. profit and loss account
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5
Given:
I. Cash refunds
II. Debit note issued
III. Dishonored cheque
IV. Purchases
The item on the credit side of purchases ledger control account includes
  • A. I,II and III only
  • B. I and II only
  • C. III and IV only
  • D. I, III and IV only
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts