Jamb Accounts - Principles of Accounts 2017 Past Questions and Answers

Question 46:

• JAMB 2017

The correct expression of accounting equation is

A. Assets = Liabilities + Equity
B. Net assets = Liabilities + Equity
C. Assets + Liabilities = Equity
D. Assets = Equity - liabilities

Question 47:

• JAMB 2017

Subscription in advance is treated in the balance sheet as a

A. Current asset
B. Current liability
C. Fixed asset
D. Long term liability

Question 48:

• JAMB 2017

Which of these is a content of a master file?

A. All records relevant to the organisation.
B. Records of assets of the organisation
C. A collection of data items
D. All records relating to employees

Question 49:

• JAMB 2017

An evidence of payment issued to a government ministry by a revenue collector is

A. Treasury receipt
B. Receipt voucher
C. Payment voucher
D. Treasury card

Question 50:

• JAMB 2017

A part of public company's profits belonging to the shareholders is

A. Public issue
B. Bonus
C. Right issue
D. Dividends