Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 736:

• JAMB 2009

If the opening stock is 5% of sales. calculate the purchases

A. N95,600
B. N95,000
C. N90,600
D. N85,000

Question 737:

• JAMB 2009

Use the information to answer the question.
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
The insurance premium to be taken to the profit and loss account would be.

A. N1,310
B. N1,850
C. N1,990
D. 2,210

Question 738:

• JAMB 2010

The major function of accounting bodies in Nigeria is to?

A. Provide proper financial management of businesses
B. Provide good remuneration to the members
C. Promote the ethics of the profession
D. Show the dynamic nature of the profession

Question 739:

• JAMB 2010

The major function of accounting bodies in Nigeria is to?

A. Provide proper financial management of businesses
B. Provide good remuneration to the members
C. Promote the ethics of the profession
D. Show the dynamic nature of the profession

Question 740:

• JAMB 2010

Ledger account is mainly classified into?

A. Nominal, real and personal accounts
B. Fixed and current accounts
C. Management, financial and public sector accounting
D. Bank and cash accounts