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Accounts - Principles of Accounts
Accounts - Principles of Accounts Past Questions
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2501
Given:
I. Settlement of debts
II. Cessation of business
III. Introduction of assets
IV. Disposal of assets
Which of these constitutes dissolution of partnership?
A.
II and IV only
B.
I,II and IV only
C.
I,II and III only
D.
II,III and IV only
View Answer & Discuss
JAMB 2017
2502
The use of a three column cash book is determined by
A.
cash discount
B.
trade discount
C.
cash transaction
D.
Bank transaction
View Answer & Discuss
JAMB 2017
2503
The discount column on the left-hand side of cashbook represents a discount
A.
received from a creditor
B.
allowed to a debtor
C.
received from a debtor
D.
allowed to a creditor
View Answer & Discuss
JAMB 2017
2504
Which of the following is used to service all operations of government?
A.
Consolidated Revenue Fund
B.
Consolidated Reserve Fund
C.
Special Operational Fund
D.
General-Reserve Fund
View Answer & Discuss
JAMB 2017
2505
The tier of government that uses financial memorandum
A.
Federal government
B.
state government
C.
local government
D.
municipal government
View Answer & Discuss
JAMB 2017
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