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Question 1 of 10
A book of account that possesses the features of both day book and ledger is
JAMB Accounting Past Questions - Set 42
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 42 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 42 covers questions from JAMB exams (2014).
Progress0 / 10 answered
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Question 2 of 10
Subscription in arrears is treated in the balance sheet of a club as
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Question 3 of 10
Social Club Subscription (Extract) 31/12/2009 Subscription accrued #18,900 Subscription received in advance #16,400 Subscription received during the year 2009 #38,570 Determine the amount of subscription for the year
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Question 4 of 10
Given: Sales #180,000 Stock 1/1 # 25,000 Purchases #110,000 Sales returns # 1000 Purchases returns # 1,500 Gross profit # 58,000 Determine the value of stock as at 31st December
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Question 5 of 10
In a departmental account, where no basis of apportionment exist, apportionment is
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Question 6 of 10
In a departmental account, the expenses to be apportioned on the basis of turnover is
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Question 7 of 10
If goods are sent to to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of #100,000?
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Question 8 of 10
Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch What is the cost price of the goods sent to the branch
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Question 9 of 10
The profit of a branch is usually credited to the
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Question 10 of 10
Where partnership is converted into a limited liability company, current account balances of partners are transferred to a