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

Question 71:

• JAMB 2018

In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?

A. Virement
B. Fund accounting
C. Consolidated fund
D. Financial regulation

Question 72:

• JAMB 2018

The current growth in the volume of trading and financial dealings in nigerian is helped by?

A. Credit as a factor in business
B. Payments for goods in cash
C. Increased financial activities
D. Government intervention

Question 73:

• JAMB 2019

Use the question to answer this question
The following information were extracted from the books of Miliki state

Sinking of bore holesPurchase of Motor carStationeryElectricityPurchase of drugsPurchase of beds

₦2,900,000920,000300,00045,00076,000425,000

Capital expenditure is

A. ₦345,000
B. ₦3,245,000
C. ₦421,000
D. ₦4,245,000

Question 74:

• JAMB 2019

An ordinary share of ₦100 was issued at ₦80. The share was issued at

A. Premium
B. Par
C. Discount
D. Loss

Question 75:

• JAMB 2019

An officer that is charged with the responsibility of carrying out investigations on the book of accounts to show the true and fair view is

A. Ministry of Finance
B. Accountant General
C. Revenue office
D. Auditor General