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Question 1 of 10
The trader's capital in a single entry system is ascertained by preparing
JAMB Accounting Past Questions - Set 34
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 34 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 34 covers questions from JAMB exams (2016).
Progress0 / 10 answered
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Question 2 of 10
I. Members subscription II. Fines from members III. Donation IV. Loan from bank From the information above, sources of income for a Not-for-profit-making organization include
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Question 3 of 10
Clifford pays rent of #200 per month for premises, He paid #2,800 within the year. Compute the prepayment.
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Question 4 of 10
Purchases can be ascertained through the preparation of a
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Question 5 of 10
When stock is withdrawn for personal use, the accounting entries is to debit
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Question 6 of 10
Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled #800,000. A provision for bad and doubtful debts. Find the amount for sundry debtors after provision.
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Question 7 of 10
Which of the following is accounted for in receipts and payments account?
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Question 8 of 10
When the purchase consideration is lower ttan the net asset, the buyer has gained the advantage of
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Question 9 of 10
An increase in government expenditure within a year is taken care of by means of
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Question 10 of 10
A business organization prepares departmental account in order to