Public Sector Accounting - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 1:

• JAMB 1994

The term "accounting period" is used to refer to the

A. Time span during which taxes are paid to the inland revenue board
B. Budget period, usually one year, relied on by the accountant
C. Time span, usually one year, covered by financial statement
D. Period within which debtors are expected to settle accounts

Question 2:

• JAMB 1994

The receipt from a special tax levy to pay maturing interest obligation are recorded in

A. Capital fund project
B. Debt Service Fund
C. Tax Assessment Fund
D. Special Revenue Fund

Question 3:

• JAMB 1995

Which of the following are sources of revenue to state government in Nigeria?
I Statutory allocation
II Fines from customary courts
III Petroleum tax
IV Income tax
IV

A. I and II only
B. II and III
C. I and IV
D. III and IV

Question 4:

• JAMB 1995

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Capital expenditure is

A. N420,000
B. N380,000
C. N240,000
D. N200,000

Question 5:

• JAMB 1995

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Recurrent expenditure is

A. N390,000
B. N360,000
C. N350,000
D. N170,000