Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 486:

• JAMB 2004

The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.
The amount withdrawn is

A. N2,100
B. N2,200
C. N4,400
D. N6,400

Question 487:

• JAMB 2004

The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.
The cash book closing balance will be

A. N900
B. N2,400
C. N4,200
D. N4,600

Question 488:

• JAMB 2004

WHAT IS THE VALUE OF RAW MATERIALS ISSUED ON MAY 17TH BASED ON THE LIFO METHOD?

A. N60
B. N61
C. N62
D. N64

Question 489:

• JAMB 2005

The double principle of accounting was developed by?

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

Question 490:

• JAMB 2005

The double principle of accounting was developed by?

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