Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 981:

• JAMB 2014

Determine the closing stock.

A. N30,000
B. N40,000
C. N50,000
D. N60,000

Question 982:

• JAMB 2014

What is the total income for the period?

A. N13,890
B. N13,500
C. N10,500
D. N9,500

Question 983:

• JAMB 2015

An expenses is said to be revenue in nature if it

A. Adds or contributes to the operating income of the business
B. Necessitates the introduction of additional capital
C. Reduces the capital of the business
D. Adds to or improves the value of fixed assets

Question 984:

• JAMB 2015

An expenses is said to be revenue in nature if it

A. Adds or contributes to the operating income of the business
B. Necessitates the introduction of additional capital
C. Reduces the capital of the business
D. Adds to or improves the value of fixed assets

Question 985:

• JAMB 2015

An entry in a subsidiary book which does not form part of the double entry system is a

A. Contra entry
B. Single entry
C. Journal entry
D. Memorandum entry