Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 931:

• JAMB 2013

The debenture issued at par above the nominal value is said to be issued at a

A. Cost price
B. Mark-up
C. Premium
D. Margin

Question 932:

• JAMB 2013

Accountant-general of the federation is responsible for

A. The general supervision of all auditing personnel in all the ministeries
B. The compilation of annual financial statement
C. The interpretation of rules and regulations affecting the private sectors
D. Ensuring the efficient operation of the ministries

Question 933:

• JAMB 2013

Given:
Assets and Liabilities of a Local Government
Bank balance #6,484,000
Cash # 900,000
General revenue balances #9,774,500
Accrued salaries #1,220,000
Investment in shares #1,480,000
Vehicles #7,620,000
Calculate the liabilities of the local government

A. #10,994,500
B. #17,394,500
C. #18,774,500
D. #18,874,500

Question 934:

• JAMB 2014

One of the the differences between bookkeeping and accounting is that the former

A. Records data while the latter interprets
B. Is regarded as the language of the business while the latter ascertains its strenght
C. Interprets data while the latter records it
D. Summarises information while the latter communicates it

Question 935:

• JAMB 2014

One of the the differences between bookkeeping and accounting is that the former

A. Records data while the latter interprets
B. Is regarded as the language of the business while the latter ascertains its strenght
C. Interprets data while the latter records it
D. Summarises information while the latter communicates it