Accounts Principles Of Accounts Jamb Past Questions and Answers

Question 81 :

• JAMB 1995

A government accounting systems must make sure that

A. Revenue exceeds expenditure
B. All applicable legal provisions are complied with
C. Capital expenditure is equal to revenue
D. Capital project fund is tied to recurrent expenditure

Question 82 :

• JAMB 1995

Equity shareholders' fund is

A. N133 000
B. N 120 000
C. N113 000
D. N 100 000

Question 83 :

• JAMB 1995

If a 10% dividend is approved, what is the dividend payable to ordinary shareholders?

A. N 13 000
B. N 11 300
C. N 10 000
D. N 8 000

Question 84 :

• JAMB 1995

A charitable club has the following figures:
N
Subscriptions received in 1991 2 800
Subscriptions unpaid in 1990 300
Subscriptions paid for 1992 150
Subscriptions due 1991 180
How much should be charged to the income and expenditure of this club as subscription for 1991?

A. N 2 530
B. N 2 680
C. N 2 830
D. N 2 980

Question 85 :

• JAMB 1995

Accumulated depreciation on the asset as at 31/12/81 was

A. N 2 487 500 .00
B. N 2 736 250 . 00
C. N 4 511 192.00
D. N 4 975 000 .00