Jamb Accounts - Principles of Accounts 2015 Past Questions and Answers

Question 26:

• JAMB 2015

One of the items listed below will not be found in a company’s memorandum and article of association. Which is it?

A. Objects and their alteration
B. Location of business
C. Bank signatories
D. Powers of directors

Question 27:

• JAMB 2015

The act of making necessary adjustment after comparing the actual cost with targeted cost is cost ----------------------------

A. Conversion
B. Control
C. Allocation
D. Analysis

Question 28:

• JAMB 2015

Sales ledger control account contains the total amount in respect of

A. Creditors
B. Debtors
C. Investors
D. Shareholders

Question 29:

• JAMB 2015

The following account are prepared when goods are sent to branch except

A. Branch stock
B. Goods set to branch account
C. Branch adjustment account
D. Branch debtors account

Question 30:

• JAMB 2015

The basis of accounting for public sector is

A. Accrual basis
B. Cost basis
C. Revenue basis
D. Cash basis