Jamb Accounts - Principles of Accounts 2023 Past Questions and Answers

Question 11:

• JAMB 2023

Which of the following is not an advantage of control account?

A. Difficulty in committing fraud
B. It can be used to detect missing figure
C. Helps to determine profit and loss
D. Helps in locating errors

Question 12:

• JAMB 2023

Factory overheads are also known as ____________

A. Direct manufacturing
B. Direct expenses
C. Indirect cost
D. Direct labour

Question 13:

• JAMB 2023

Which of the following has the ultimate control of a company?

A. Board of directors
B. Employees
C. Shareholders
D. Management

Question 14:

• JAMB 2023

The following are importance of branch account except ____________

A. It allows fraud and wastage of resources
B. It assist the organization to determine the performance of a branch manager
C. It enable the organization to determine the branch that is making either profit or loss
D. It allows proper control over the branch by the head office

Question 15:

• JAMB 2023

The use of three column cash book is determined by

A. Trade discount
B. Cash transaction
C. Bank transaction
D. Cash discount