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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
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
11
A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a
  • A. original entry
  • B. contra entry
  • C. prime entry
  • D. contract entry
View Answer & Discuss JAMB 2017
12
What is the main purpose of transaction file?
  • A. To record assets and liabilities
  • B. To update income and expenses
  • C. to update master files
  • D. to make organization decision
View Answer & Discuss (1) JAMB 2017
13
Processed data is only useful to user if it is
  • A. complex
  • B. quantitative
  • C. relevant
  • D. qualitative
View Answer & Discuss JAMB 2017
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO offline past questions - All questions, answers & explanations in one app 25712
14
Changes can occur in partnership when:
i. partnership is dissolved
ii. There is amalgamation of partnership
iii.There is a change in the profit or loss sharing ratio
Iv. Intangible asset increase
  • A. I,II and IV
  • B. I & III
  • C. I,II and III
  • D. I, III and IV
View Answer & Discuss JAMB 2017
15
The authority warrant issued prior to the approval of the appropriate bill at the beginning of the year
  • A. provisional general warrant
  • B. annual general warrant
  • C. Reserved expenditure warrant
  • D. contigencies
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts