Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 686:

• JAMB 2008

Which of the following is true of Uju Nig.Ltd?

A. It is a highly geared company
B. It has no liquidity problem in the short term
C. It is adequately secured in fixed assets
D. It's working capital is zero

Question 687:

• JAMB 2008

Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
What was department Q's gross profit?

A. N2 500
B. N2 300
C. N 2 200
D. N1700

Question 688:

• JAMB 2009

Which of the following branches of accounting was first developed?

A. Cost accounting
B. Financial acounting
C. Management accounting
D. Petroleum accounting

Question 689:

• JAMB 2009

Which of the following branches of accounting was first developed?

A. Cost accounting
B. Financial acounting
C. Management accounting
D. Petroleum accounting

Question 690:

• JAMB 2009

The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?

A. Accruals
B. Materiality
C. Objectivity
D. Periodicity