Ethics In Accounting - Accounts Principles Of Accounts Jamb Past Questions and Answers

Question 1 :

• JAMB 1994

The term "accounting period" is used to refer to the

A. Time span during which taxes are paid to the inland revenue board
B. Budget period, usually one year, relied on by the accountant
C. Time span, usually one year, covered by financial statement
D. Period within which debtors are expected to settle accounts

Question 2 :

• JAMB 1998

Responsibility accounting is particularly concerned with?

A. Histoical accounting
B. Controllable costs
C. Storekeeping
D. Valuation of stock