Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 876:

• JAMB 2012

Purchasers - #44,880
Sales - #85,850
Trade creditors - #12,250
Trade debtors - #24,000
Accrued expenses - # 350
Prepaid expenses - # 700
Stock 1/1/2006 - #25,120
Stock 31/12/2006 - #27,840
Determine the number of times stock was turned over during the period to the nearest figure

A. 1
B. 2
C. 3
D. 4

Question 877:

• JAMB 2012

Which of the following is a source of revenue to the federation account?

A. Market fees
B. Bicycle licences
C. Tarrifs
D. Property rates

Question 878:

• JAMB 2012

The book into which all types of a ministry's expenditure are recorded is the

A. Ledger book
B. Payment book
C. Vote book
D. Expenditure book

Question 879:

• JAMB 2012

The Petroleum Technology Development Fund is under the

A. General fund
B. Contingency fund
C. Trust fund
D. Capital fund

Question 880:

• JAMB 2012

The power to appoint the Auditor General of the Federation is vested in the

A. National Assembly
B. President
C. Judicial Service Commission
D. Civil Service Commission