Nature and Significance of Accounting - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 66:

• JAMB 2015

Which of the following cannot be realized?

A. Creditors
B. Debtors
C. Motor vehicles
D. Goodwill

Question 67:

• JAMB 2015

Accounting information is used by investors and creditors of a company to predict

A. Potential merger candidates for the company
B. Appropriate remunerations for the company’s staff
C. Future cash flows of the company
D. Future tax payments of the company

Question 68:

• JAMB 2015

Which of the following is not a feature of accounting information?

A. Timeliness
B. Accuracy
C. Completeness
D. Affordability

Question 69:

• JAMB 2015

The accounting concepts which assumes that business will continue to be in existence into the foresee ablefure is

A. Periodicity
B. Business entity
C. Dual aspect
D. Going concern

Question 70:

• JAMB 2016

One of the objectives of accounting is that it can be used for

A. Business decision making
B. Due process in business
C. Motivating employees
D. Determining the work force