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Accounts - Principles of Accounts
Accounts - Principles of Accounts Past Questions
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31
An advantage of using accounting ratios is that they
A.
can be easily calculated
B.
facilitate decision making
C.
are stipulated by law
D.
shows error and fraud
View Answer & Discuss (2)
JAMB 1994
32
The expenditure on a good or services which is consumed either immediately or within a current accounting period is called
A.
fixed expenditure
B.
capital expenditure
C.
annual expenditure
D.
recurrent expenditure
View Answer & Discuss (1)
JAMB 1994
33
The receipt from a special tax levy to pay maturing interest obligation are recorded in
A.
capital fund project
B.
Debt Service Fund
C.
Tax Assessment Fund
D.
Special Revenue Fund
View Answer & Discuss (1)
JAMB 1994
34
The cash bass of accounting requires the recognition of revenue only when they are
A.
due
B.
earned
C.
paid
D.
received
View Answer & Discuss (1)
JAMB 1994
35
The amount of individual items on a government budget is called
A.
vote
B.
deposit
C.
loan
D.
grant
View Answer & Discuss (1)
JAMB 1994
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