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Question 1 of 10
The figure ₦1000 represent what in the balance sheet.
JAMB Accounting Past Questions - Set 22
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 22 quiz contains 10 multiple choice questions designed to help you revise and test your Financial Accounting knowledge. Select an answer for each question and click “Submit Answer” to see instant feedback. Take your time and try to score as high as possible!
Description
Practice with real JAMB/WAEC Accounting past questions. Test your knowledge of bookkeeping, financial statements, and accounting principles. Set 22 covers questions from JAMB exams (2019).
Progress0 / 10 answered
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Question 2 of 10
What is the opening cash balance
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Question 3 of 10
Which of these will not appear in the preparation of control account. I. Bad debts II. Discounts III. Returns IV. Provision for bad debts
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Question 4 of 10
Use the following Information to answer this question.
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Question 5 of 10
A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as
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Question 6 of 10
The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight line method, what is the amount of depreciation charged per annum?
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Question 7 of 10
Recurrent expenditure is
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Question 8 of 10
Capital expenditure is
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Question 9 of 10
Goods can be charged to branches using any of these pricing methods except
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Question 10 of 10
Abelawo ltd operates a retail branch at Aba. All purchases are made by the head office in Onitsha and goods are charged to the branch at cost plus 50%. During the year ended. Goods sent to branch at invoiced price is ₦30,870, cash sales ₦13,020 and Bad debt amounted to 129. From the following, what is the profit?