Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 241:

• JAMB 2000

In order to make the cash book balance equal to the bank statement, it is usual to add?

A. Uncredited cheques
B. Direct payments by bank
C. Bank charges
D. Unpresented cheques

Question 242:

• JAMB 2000

Use the information below to answer question 4 and 5.
Sales N20,000
Cost sales N10,000
Operating expenses N2,500
Expenses prepaid included
in operating expenses N500
Calculate the net profit?

A. N12,500
B. N10,000
C. N8,000
D. N7,500

Question 243:

• JAMB 2000

what is the gross profit margin?

A. N100%
B. N50%
C. N40%
D. N30%

Question 244:

• JAMB 2000

The main objective of bookkeeping is to record economic?

A. Transactions systematically for routine managerial decision-making
B. Events clearly to ensure adequate checks and balances
C. Events clearly to facilitate strategic managerial desicion-making
D. Transaction systematically to ascertain the financial position of a business

Question 245:

• JAMB 2000

Which of the following is an example of intangible assets?

A. Trade debtors
B. Stock of goods
C. Trade creditors
D. Motor vehicles