Jamb Accounts - Principles of Accounts 2017 Past Questions and Answers

Question 1:

• JAMB 2017

Which of these accounts is dissolution expenses credited?

A. Partners capital account
B. Revaluation account
C. Partners current account
D. Realization account

Question 2:

• JAMB 2017

Which of these accounts is dissolution expenses credited?

A. Partners capital account
B. Revaluation account
C. Partners current account
D. Realization account

Question 3:

• JAMB 2017

Capital for a profit making organization is generated through

A. Subscription
B. Shares
C. Donation
D. Gift

Question 4:

• JAMB 2017

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

A. Trading account
B. Appropriation account
C. Balance sheet
D. Profit and loss account

Question 5:

• JAMB 2017

In manufacturing account, depreciation of office machine is charged to

A. Trading account
B. Appropriation account
C. Balance street
D. Profit and loss account