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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
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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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