Jamb Accounts - Principles of Accounts 2013 Past Questions and Answers

Question 46:

• JAMB 2013

The debenture issued at par above the nominal value is said to be issued at a

A. Cost price
B. Mark-up
C. Premium
D. Margin

Question 47:

• JAMB 2013

Accountant-general of the federation is responsible for

A. The general supervision of all auditing personnel in all the ministeries
B. The compilation of annual financial statement
C. The interpretation of rules and regulations affecting the private sectors
D. Ensuring the efficient operation of the ministries

Question 48:

• JAMB 2013

Given:
Assets and Liabilities of a Local Government
Bank balance #6,484,000
Cash # 900,000
General revenue balances #9,774,500
Accrued salaries #1,220,000
Investment in shares #1,480,000
Vehicles #7,620,000
Calculate the liabilities of the local government

A. #10,994,500
B. #17,394,500
C. #18,774,500
D. #18,874,500