Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Accounts - Principles of Accounts Past Questions

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2326

An item in the balance sheet of a limited liability company is

  • A. accrued expenses
  • B. lighting and heating
  • C. salaries and wages
  • D. general expenses
View Answer & Discuss (1) JAMB 2016
2327

The documents that provide instant information to firms on their tranactions with banks are

  • A. bank statement and debit note
  • B. cheque book and cashbook
  • C. cheque stub and deposit slip
  • D. payslip and credit invoice
View Answer & Discuss JAMB 2016
2328

Which of the following is the capital reserve of a company?

  • A. Accumulated depreciation
  • B. Retained profit
  • C. Share premium
  • D. Loss on forfeited shares
View Answer & Discuss (1) JAMB 2016
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2329

The effect of overstating revenue expenditure in the profit and loss account is that the

  • A. opening stock will be increased
  • B. net profit will be understand
  • C. net profit will be overstead
  • D. opening stock will be decreased
View Answer & Discuss JAMB 2016
2330

Which of the following condition would attract credit and debit notes to be used?

  • A. When goods are received from supplier
  • B. When a trial balance is extracted
  • C. When a buyer is under or over charged
  • D. When goods are sold to a buyer
View Answer & Discuss JAMB 2016
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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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