Jamb Accounts - Principles of Accounts 2018 Past Questions and Answers

Question 26:

• JAMB 2018

In departmental accounting, which is not a transfer pricing_________

A. Cost based transfer price
B. Market based transfer pricing
C. Dual pricing system
D. Peak pricing

Question 27:

• JAMB 2018

What act generally includes completing unfinished partnership business, collecting and paying debts, collecting partnership assets to be turned into cash and taking inventory?

A. Formation
B. Dissolution
C. Winding up
D. Termination

Question 28:

• JAMB 2018

Using the following:
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦300, unpresented cheque ₦5000.
what is the adjusted cashbook balance?

A. 4000
B. 300
C. 4300
D. 5000

Question 29:

• JAMB 2018

Branch stock adjustment account is prepared at?

A. Cost price
B. New price
C. Invoice price
D. Normal price

Question 30:

• JAMB 2018

A partnership deed is used to____________

A. Promote mutual understanding
B. Enhance mistrust
C. Encourage discrepancy
D. Control funds