Jamb Accounts - Principles of Accounts 2008 Past Questions and Answers

Question 41:

• JAMB 2008

The salary of the chief Justice of the Federation is paid from the?

A. Consolidated revenue fund
B. Development fund
C. Contigency fund
D. Special fund

Question 42:

• JAMB 2008

Which of the following is among the categories of government cash book?

A. Receipt cash book
B. Payment cash book
C. Petty cash book
D. Treasury cash book

Question 43:

• JAMB 2008

The Auditor General of the Federation can be removed by the?

A. National Assembly
B. Chief Justice
C. The president
D. Head of Service

Question 44:

• JAMB 2008

Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?

A. N4075
B. N4240
C. N3315
D. N3075

Question 45:

• JAMB 2008

Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
What is the gross profit?

A. N88 200
B. N76 800
C. N 19 200
D. N12 900