Jamb Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 41:

• JAMB 2011

Goodwill is determined using?

A. Capital contribution
B. Number of partnerd admitted
C. The business and customer relations
D. Number of active partners

Question 42:

• JAMB 2011

The founders of a company are?

A. Promoters
B. Shareholders
C. Canvassers
D. Stakeholders

Question 43:

• JAMB 2011

The fund in which all government receipt are paid is?

A. Consolidated revenue fund
B. Development fund
C. Trust fund
D. Contingency fund

Question 44:

• JAMB 2011

Which of the following accounts for the highest revenue to Nigeria?

A. Import duties
B. Personal income tax
C. Petroleum income tax
D. Company tax

Question 45:

• JAMB 2011

If Aboki Holdings Limited issued 120, 000 ordinary share of N2.00 each at market value of 5.50k each, the share premium would?

A. N500 000
B. N450 000
C. N550 000
D. N420 000