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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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556
The entry in the partnership books of accounts for interest on drawings is to?
  • A. credit partners capital account
  • B. debit partners capital account
  • C. credit drawings account
  • D. debit drawings account
View Answer & Discuss JAMB 2008
557
In partnership dissolution, an asset taken over by a partner is debited to?
  • A. partners capital account and credited to realization account
  • B. Partners capital account and credited to asset account
  • C. asset account and credited to realization account
  • D. realization account and credited to capital account
View Answer & Discuss (1) JAMB 2008
558
Goodwill can be in the balance sheet as?
  • A. fixed tangible asset
  • B. current asset
  • C. fictitious asset
  • D. liquid asset
View Answer & Discuss JAMB 2008
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559
Cash received from the subscribed shares is recorded by debting?
  • A. application, allotment and crediting cash
  • B. allotment and crediting cash
  • C. cash and crediting subscribed shares
  • D. cash, crediting application and allotment account
View Answer & Discuss JAMB 2008
560
Ordinary shareholders received dividend before?
  • A. creditors
  • B. debtors
  • C. preference shareholders
  • D. deferred shareholders
View Answer & Discuss JAMB 2008
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts