Jamb Accounts - Principles of Accounts 2016 Past Questions and Answers

Question 6:

• JAMB 2016

One of the objectives of accounting is that it can be used for

A. Business decision making
B. Due process in business
C. Motivating employees
D. Determining the work force

Question 7:

• JAMB 2016

The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a

A. Return on capital employed
B. Gross profit margin
C. Net profit margin
D. Return on equity

Question 8:

• JAMB 2016

The instrument used in analysis and interpretation of financial statement is the

A. Accounting ratios
B. Income and expenditure extract
C. Balance sheet extract
D. Found accounting

Question 9:

• JAMB 2016

An item in the balance sheet of a limited liability company is

A. Accrued expenses
B. Lighting and heating
C. Salaries and wages
D. General expenses

Question 10:

• JAMB 2016

The documents that provide instant information to firms on their tranactions with banks are

A. Bank statement and debit note
B. Cheque book and cashbook
C. Cheque stub and deposit slip
D. Payslip and credit invoice