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Question 1 of 10
The following account are prepared when goods are sent to branch except
JAMB Accounting Past Questions - Set 38
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 38 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 38 covers questions from JAMB exams (2015).
Progress0 / 10 answered
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Question 2 of 10
The basis of accounting for public sector is
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Question 3 of 10
Use the information below to answer this question SegunOjo, didn’t keep her books on double principle. On 1st Jan, 2014, cash in hand was 850, bank overdraft 3500, debtor 15,500,stock 18,000, fittings 9,000 and creditors 12,700. As at Dec, 2014, cash in hand was 1200, cash at bank 2,500, debtors 10,000, stock 20,500, furnishing 4,000 and creditors 17,000 Determine the closing capital 31/12/2014
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Question 4 of 10
If the partnership agreement does not specify how net profit is to be divided, the profit should be divided .
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Question 5 of 10
Use the information below to answer this question. A business has three departments x, y and z You are given the following information Selling and distribution expenses N5200 Rent for the yearN6000 Department turnover floor space in square metres X N60,000 80 Y N80,000 60 Z N100,000 60 How much rent is apportioned to department Z?
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Question 6 of 10
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was
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Question 7 of 10
Use the information below to answer this question Segun Ojo, didn’t keep her books on double principle. On 1st Jan, 2014, cash in hand was 850, bank overdraft 3500, debtor 15,500,stock 18,000, fittings 9,000 and creditors 12,700. As at Dec, 2014, cash in hand was 1200, cash at bank 2,500, debtors 10,000, stock 20,500, furnishing 4,000 and creditors 17,000 Compute the capital as at 1st Jan, 2014.
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Question 8 of 10
Keeping records under single entry system has the advantage of
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Question 9 of 10
Which of the following is true in public sector accounting? Cost of assets is
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Question 10 of 10
Which of the following accounts is debited when a delivery van is sold for cash?