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Accounts - Principles of Accounts Past Questions

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2181
Income and expenditure account is more detailed than receipts and payments account because it disclosed
  • A. cash
  • B. cheques
  • C. debtors
  • D. stocks
View Answer & Discuss JAMB 2015
2182
Capital reserves includes the following except
  • A. revaluation surplus
  • B. pre-incoporation profit
  • C. share premium
  • D. general reserves
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2183
Which of the following is not a feature of accounting information?
  • A. timeliness
  • B. accuracy
  • C. completeness
  • D. affordability
View Answer & Discuss JAMB 2015
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2184
The accounting concepts which assumes that business will continue to be in existence into the foresee ablefure is
  • A. periodicity
  • B. business entity
  • C. dual aspect
  • D. going concern
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2185
The purpose of a trading account is to ascertain
  • A. sales
  • B. carriage outwards
  • C. gross profit or loss
  • D. net profit or loss
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