Accounts - Principles of Accounts Past Questions

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426

The not-for-profit-making organizations generate their income mainly from?

A. bar sales
B. subcriptions
C. rents
D. pools

View Answer & Discuss JAMB 2005

427

Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?

A. debit side of its profit and loss account
B. credit side of its profit and loss account
C. debit side of its income and expenditure account
D. credit side of its income and expenditure account

View Answer & Discuss JAMB 2005

428

Departmental accounts are prepared to aid the comparison of the?

A. previous year's transactions
B. daily profits
C. workers' performances
D. management performances

View Answer & Discuss (1) JAMB 2005

429

A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?

A. N9000
B. N6000
C. N4500
D. N1500

View Answer & Discuss (1) JAMB 2005

430

The movement of goods from head office to a branch is treated in the in the head office accounts as?

A. sales
B. issue
C. purchase
D. requisition

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Accounts - Principles of Accounts Past Questions

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