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Accounts - Principles of Accounts Past Questions

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646

The capital contribution by the partners is treated in the?

  • A. current account
  • B. capital account
  • C. trading account
  • D. balance sheet
View Answer & Discuss JAMB 2010
647

Given:

N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000

Find the value of authorized share capital?



 

  • A. 13 000 000
  • B. 12 000 000
  • C. 9 000 000
  • D. 15 700 000
View Answer & Discuss JAMB 2010
648
The directors' salaries paid are items of?
  • A. current liabilities
  • B. profit and loss account
  • C. trading account
  • D. current account
View Answer & Discuss JAMB 2010
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649

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800.
A provision of 2% was made for discount and 5% provision for bad and doubtful debts.

Find the amount for sundry debtors after provision?

 

  • A. N760 000
  • B. N744800
  • C. N744 000
  • D. N784 000
View Answer & Discuss (1) JAMB 2010
650

The financial plan of the government for a year is contained in the?

  • A. budget
  • B. cash analysis book
  • C. vote book
  • D. gazette
View Answer & Discuss JAMB 2010
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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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