Jamb Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 66:

• JAMB 2019

The instrument isued by the Minister who authorized an officer to incure expenditure is a/an

A. Warrant
B. Budget
C. Imprest
D. Consolidated fund

Question 67:

• JAMB 2019

One of the objective of maintaining the account of a branch at the head office is to

A. To access the performance of the branches
B. Check the excesses of customers
C. Record charges in shareholdings
D. Record charges in liabilities

Question 68:

• JAMB 2019

A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is

A. ₦20,000
B. ₦6,000
C. ₦6,174
D. ₦10,000

Question 69:

• JAMB 2019

The objective of departmentalization is to

A. Ensure that departmental managers are adequately monitored
B. Record transactions for each department for better documentation
C. Tackle any recording problem as a result of expansion
D. Evaluate the profit of different departments

Question 70:

• JAMB 2019

Discount received is apportioned to each department on the basis of

A. Floor area
B. Turnover
C. Purchases
D. Horse power