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Question 1 of 10
Which of the following should not be adjusted for in the profit and loss account?
JAMB Accounting Past Questions - Set 27
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 27 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 27 covers questions from JAMB exams (2018).
Progress0 / 10 answered
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Question 2 of 10
Use the information below to answer the question .
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Question 3 of 10
In the absence of a partnership deed, the act stipulates that____________
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Question 4 of 10
A partnership’s internal regulation are set out by________---
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Question 5 of 10
Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted as a new partner to take 1/5 th as her share. What is the new profit or loss sharing?
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Question 6 of 10
Transfers from the head office to branches are best carried out at__________
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Question 7 of 10
Which of the following is a common cause of a discrepancy between head office and branch trial office________
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Question 8 of 10
Departmentalization of accounts is useful because it shows the____________
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Question 9 of 10
Why should a new partner contribute towards goodwill on his admission?
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Question 10 of 10
The rent expense for Trendy store is ₦3500. Trendy store has three departments; jewelry, hair dressing, and clothing. The floor spaces occupied by the departments are 3:2:5 respectively. What is the rent allocated to clothing department?