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Accounts - Principles of Accounts 2025 JAMB Past Questions

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16

In departmental accounts, rent is apportioned on the basis of

  • A. volume of sales
  • B. floor area occupied
  • C. purchases
  • D. number of personnel in each department
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17

The process of recording the financial transactions of government is

  • A. cost accounting
  • B. management accounting
  • C. public sector accounting
  • D. financial accounting
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18

A business should not lay claim to any profit before it is earned. This is in accordance with the

  • A. prudence concept
  • B. going concern concept
  • C. consistency concept
  • D. dual aspect concept
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19

Which of the following errors affects the agreement of a Trial Balance?

  • A. Posting the Purchase of a van to the debit side of the purchases account
  • B. Failure to enter sales in the books
  • C. Wrong addition in the sales account
  • D. Crediting a purchase to A. Tambi's account instead of F. Tambi's account
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20

Which of the following is an advantage of the imprest system?

  • A. making high profits in the business
  • B. Rewarding the imprest holder
  • C. Meeting small items of expenditure
  • D. Easy preparation of the final accounts
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