Accruals and prepayments - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 11:

• JAMB 2010

Benefit enjoyed for which payments have not been made are?

A. Accruals
B. Prepayments
C. Acquisitions
D. Provisions

Question 12:

• JAMB 2015

Determine wage expenses from the given information, wages outstanding at the beginning, wages paid during the period 15000 and wages outstanding of the period 2,000

A. N16,000
B. N17,000
C. N13,000
D. N14,000

Question 13:

• JAMB 2016

Clifford pays rent of #200 per month for premises, He paid #2,800 within the year. Compute the prepayment.

A. #300
B. #400
C. #600
D. #200

Question 14:

• JAMB 2016

Use the information below to answer the question that follows,A machine bought for N35,000 was estimated to have a life span of 5years with a scrap value of N9,000.


The yearly depreciation using the straight line method would be?

A. N5,200
B. N6,500
C. N8,800
D. N4,400