Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 836:

• JAMB 2011

Which of the following signs general warrant for the release of money from the consolidated revenue fund?

A. Minister of Finance
B. Chairman, Economic Advisory Committee
C. Permanent secretary
D. Minister of Economic Planning

Question 837:

• JAMB 2011

Find the average stock for the period

A. N27 000
B. N23 000
C. N28 000
D. N20 500

Question 838:

• JAMB 2012

The basis upon which assets of an organization is valued is the

A. Historical concept
B. Business entity concept
C. Periodicity concept
D. Materiality concept

Question 839:

• JAMB 2012

The basis upon which assets of an organization is valued is the

A. Historical concept
B. Business entity concept
C. Periodicity concept
D. Materiality concept

Question 840:

• JAMB 2012

An accountant must not only be interested in record keeping but also in

A. The application of professional competency
B. The accuracy of postings
C. The casting of financial figures
D. Effective preparation of balance sheet