Nature and Significance of Accounting - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 31:

• JAMB 2003

Verifiability in accounting is only possible when there are?

A. Minutes of meetings
B. Payment vouchers
C. Source documents
D. Audit certificates

Question 32:

• JAMB 2003

Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

A. Realization concept
B. Substance over form
C. Conservatism
D. Measurement concept

Question 33:

• JAMB 2004

The accounting principle that is applied to check arbitrary actions on the part of accountants is?

A. Consistency
B. Materiality
C. Objectivity
D. Realization

Question 34:

• JAMB 2004

The accounting principle that is applied to check arbitrary actions on the part of accountants is?

A. Consistency
B. Materiality
C. Objectivity
D. Realization

Question 35:

• JAMB 2005

The double principle of accounting was developed by?

A. Frank Wood
B. Luca Pacioli
C. Akintola Williams
D. William Pickles