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Question 1 of 10
Which of the following is the capital reserve of a company?
JAMB Accounting Past Questions - Set 32
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 32 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 32 covers questions from JAMB exams (2016).
Progress0 / 10 answered
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Question 2 of 10
The effect of overstating revenue expenditure in the profit and loss account is that the
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Question 3 of 10
Which of the following condition would attract credit and debit notes to be used?
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Question 4 of 10
Given: # Drawings 3,500 Net loss 2,500 Capital 1.1,2007 35,000 Additional capital 10,000 The adjusted capital as at 31 : 12 : 2007 is
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Question 5 of 10
A receipt is an evidence of
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Question 6 of 10
Turaki Youth Club Income and Expenditure for the year ended 31/12/04 # # Bal.b/d 390 Expenses on cleaning 300 Sales of - New tool 510 trickets 4,000 Repairs 400 Donations 3,000 Electricity 350 Subscription 6,500 What is the total income for the period?
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Question 7 of 10
An organization which has records of only personal accounts is said to be operating on the basis of
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Question 8 of 10
A proprietor started business with #13,000. Assets and liabilities at the end of the year; fixed assets #8,800, stock #, 600, debtors #1,000, cash #3, 000 and creditors #1,000. Determine the profit for the year?
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Question 9 of 10
Badge Plc issued 450,000 ordeinary shares of 50k each at #1.50 per share Application and allotment 45k 1st call 50k 2nd call 55k Determine the amount received on final call.
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Question 10 of 10
When goods are sent to the branch at cost plus mark-up, it means that the branch should sell at