Manual and computerized accounting processing system - Jamb Accounts - Principles of Accounts 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 2017

Which of these is a content of a master file?

A. All records relevant to the organisation.
B. Records of assets of the organisation
C. A collection of data items
D. All records relating to employees