Jamb Accounts - Principles of Accounts 1995 Past Questions and Answers

Question 41:

• JAMB 1995

Which of the following are sources of revenue to state government in Nigeria?
I Statutory allocation
II Fines from customary courts
III Petroleum tax
IV Income tax
IV

A. I and II only
B. II and III
C. I and IV
D. III and IV

Question 42:

• JAMB 1995

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Capital expenditure is

A. N420,000
B. N380,000
C. N240,000
D. N200,000

Question 43:

• JAMB 1995

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Recurrent expenditure is

A. N390,000
B. N360,000
C. N350,000
D. N170,000

Question 44:

• JAMB 1995

A government accounting systems must make sure that

A. Revenue exceeds expenditure
B. All applicable legal provisions are complied with
C. Capital expenditure is equal to revenue
D. Capital project fund is tied to recurrent expenditure

Question 45:

• JAMB 1995

Equity shareholders' fund is

A. N133 000
B. N 120 000
C. N113 000
D. N 100 000