Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 476:

• JAMB 2004

Debentures can be redeemed out of?

A. Existing share capital reserve
B. Existing general reserve
C. Proceeds from new issue of shares
D. Withholding tax

Question 477:

• JAMB 2004

The expenses incurred in promoting a company are?

A. Promoters' expenses
B. Floating expenses
C. Preliminary expenses
D. The borad's expenses

Question 478:

• JAMB 2004

Share premium is an example of?

A. Revenue reserve
B. Capital reserve
C. General reserve
D. Loan capital

Question 479:

• JAMB 2004

According to the provisions of the 1999 Constitution, all revenues generated by the Federal Government must be paid into the?

A. Consolidated Revenue Fund
B. Federation Account
C. Revenue Mobilization Allocation and Fiscal Commission's Account
D. Equalization Fund

Question 480:

• JAMB 2004

The budget statement presented to the legislature by the Chief Executive is called?

A. An appropriation act
B. A budget bill
C. An appropriation bill
D. A budget proposal