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

Question 71:

• JAMB 2016

The difference between book keeping and accounting is that while

A. Book keeping interprets data, accounting records it
B. Book keeping is regarded as the language of the business accounting ascertians its strength and weakness
C. Book keeping records data accounting interprets it
D. Book keeping summaries information accounting communicatesit

Question 72:

• JAMB 2017

Processed data is only useful to user if it is

A. Complex
B. Quantitative
C. Relevant
D. Qualitative

Question 73:

• JAMB 2018

Mrs. Okoro who lives in the riverine community of Rivers State makes her living through crabbing and fishing. This type of occupation is?

A. Commercial
B. Manufacturing
C. Service
D. Extractive

Question 74:

• JAMB 2018

The main objective of accounting report is to provide information about?

A. The efficacy of assets
B. A company's shareholding
C. Company's economic resources
D. An entity's management

Question 75:

• JAMB 2018

The basic role of accounting is to?

A. Detect fraud
B. Attest to financial statements
C. Measure performance
D. Protect shareholders