Jamb Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 31:

• JAMB 2019

Use the question to answer this question:

Opening stock	₦
DepartmentAB	100800
Purchases:ABWages of workersSalaries	1500200050100
SalesAB	30005000

Expenses are to be shared in the ratio of sales.


The cost of goods for department B is

A. 4,120
B. 3400
C. 3000
D. 2800

Question 32:

• JAMB 2019

Use the question to answer this question:

Opening stock	₦
DepartmentAB	100800
Purchases:ABWages of workersSalaries	1500200050100
SalesAB	30005000

Expenses are to be shared in the ratio of sales.


The net profit for departmental A is

A. 1880
B. 1600
C. 880
D. 425

Question 33:

• JAMB 2019

Every economic unit, regardless of its legal form of existence, is treated as a separate entity from parties having economic interest is

A. Realisation concept
B. Entity concept
C. Going concern concept
D. Matching concept

Question 34:

• JAMB 2019

The two recognised accounting bases are

A. Cash and credit
B. Personal and impersonal
C. Accrual and Cash
D. Drawings and Private

Question 35:

• JAMB 2019

Given:

Additional capitalCapitalClosing capitalNet profit

₦40008000120001500

The drawings for the period stand at

A. 1500
B. 3000
C. 12,000
D. 10,500