Jamb Accounts - Principles of Accounts 2010 Past Questions and Answers

Question 41:

• JAMB 2010

The directors' salaries paid are items of?

A. Current liabilities
B. Profit and loss account
C. Trading account
D. Current account

Question 42:

• JAMB 2010

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800.
A provision of 2% was made for discount and 5% provision for bad and doubtful debts.
Find the amount for sundry debtors after provision?


A. N760 000
B. N744800
C. N744 000
D. N784 000

Question 43:

• JAMB 2010

The financial plan of the government for a year is contained in the?

A. Budget
B. Cash analysis book
C. Vote book
D. Gazette

Question 44:

• JAMB 2010

An ordinary share of N80 was issued at N96. The share was issued at?

A. Premium
B. Par
C. Discount
D. Loss

Question 45:

• JAMB 2010

An increase in government expenditure within a year is taken care of by means of?

A. Financial regulations
B. Virement
C. Warrant
D. Supplementary estimate