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Accounts - Principles of Accounts Past Questions

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231
The channel through which all government borrowing and domestic lending transactions pass is called?
  • A. special trust fund
  • B. agency fund
  • C. national loan fund
  • D. contingency fund
View Answer & Discuss JAMB 2000
232
Recurrent expenditure are expenses for the period not exceeding?
  • A. 10 years
  • B. 5 years
  • C. 2 years
  • D. 1 year
View Answer & Discuss JAMB 2000
233
A major benefit derived from the reconciliation of branch and head office books is to?
  • A. determine accurate returns by the branch
  • B. ascertian the correct profit or loss on branch activities
  • C. enable the branch to keep control over stock
  • D. enable the branch to ascertain debtor's balance
View Answer & Discuss JAMB 2000
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234
Halal Limited with three departments has a total of N7,200,000 as net debtors for the year ended 31/12/97.
The company's policy provides for 15% bad debt annually. Which of the following represents the total balance of debtors before adjustment?
  • A. N6,120,000
  • B. N6,120,300
  • C. N8,280,000
  • D. 8,820,000
View Answer & Discuss JAMB 2000
235
The current growth in the volume of trading and financial dealings in Nigeria is helped by?
  • A. increased financial activities
  • B. government intervention
  • C. credit as a factor in business
  • D. payment for goods in cash
View Answer & Discuss JAMB 2001
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