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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
2311

Use the information above to answer the question

Calculate the net profit.

  • A. N35,000
  • B. N40,000
  • C. N105,000
  • D. N115,000
View Answer & Discuss JAMB 2012
2312

Determine the bank balance

  • A. N 6,950 credit
  • B. N6,950 debit
  • C. N6,000 credit
  • D. N6,000 debit
View Answer & Discuss JAMB 2012
2313
The formula for calculating depreciation using straight line method is
  • A. \( \frac{\text{Scrape Value} + \text{Sales}}{Useful life} \)
  • B. \( \frac{\text{Cost } - \text{Scrape Value}}{Useful life} \)
  • C. \( \frac{\text{Sales } - \text{Scrape Value}}{Useful life} \)
  • D. \( \frac{\text{Purchases } + \text{Sales }}{Useful life} \)
View Answer & Discuss JAMB 2014
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2314
Determine the closing stock.
  • A. N30,000
  • B. N40,000
  • C. N50,000
  • D. N60,000
View Answer & Discuss JAMB 2014
2315
What is the total income for the period?
  • A. N13,890
  • B. N13,500
  • C. N10,500
  • D. N9,500
View Answer & Discuss JAMB 2014
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