Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 1456:

• JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

	₦		₦
Capital	??	Fixtures and fittings	4,000
		Stock	20,500
		Sundry debtors	40,000
Creditors	18,000	Bank	??
	78650		78650

What is the value of Dalandi Bako's capital?

A. ₦60,150
B. ₦78,650
C. ₦50,160
D. ₦60,650

Question 1457:

• JAMB 2023

The accounting system in which only one aspect of transaction is recorded is ____________

A. Single entry
B. Single column cash book
C. Original entry
D. Double entry

Question 1458:

• JAMB 2023

Which of the following is used in the public sector to monitor or control government expenditure?

A. Sales day book
B. Cash book
C. Cheque
D. Vote book

Question 1459:

• JAMB 2023

Profit expressed in relation to cost of goods sold is ____________

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

Question 1460:

• JAMB 2023

The document issued by a revenue collector as evidence of payment to a government ministry is a ____________

A. Receipt voucher card
B. Stores receipt voucher
C. Treasury receipt
D. Payment voucher