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Accounts - Principles of Accounts 2025 JAMB Past Questions

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71

Which of the following is not a source document?

  • A. Debit note
  • B. Sales invoice
  • C. Journal proper
  • D. Credit note
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72

The balance sheet as at 31st December, 2014, will show

  • A. current liability of ₦400
  • B. current liability of ₦600
  • C. current asset of ₦600
  • D. current asset of ₦400
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73

A financial plan of action expressed in monetary terms is known as

  • A. warrant
  • B. consolidated fund
  • C. imprest
  • D. budget
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74

When the going concern concept is no longer applicable, the fixed assets are recorded at their

  • A. realizable value
  • B. revalued amount
  • C. gross value
  • D. net book value
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75

Use the following information to answer this question

Rent for 2014 chargeable to the profit and loss account is

  • A. ₦3,400
  • B. ₦3,000
  • C. ₦4,000
  • D. ₦2,800
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