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Question 1 of 10
Department K Y Opening stock #2,500 #800 Purchases #120,000 #100,000 Sales #180,000 #200,000 Salaries #8,000 #30,000 Closing stock #3,000 #1,500 Rate expenses of #1,500 are apportioned in the ratio 1:2. The gross profit for K is
JAMB Accounting Past Questions - Set 47
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 47 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 47 covers questions from JAMB exams (2012-2013).
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Question 2 of 10
Department K Y Opening stock #2,500 #800 Purchases #120,000 #100,000 Sales #180,000 #200,000 Salaries #8,000 #30,000 Closing stock #3,000 #1,500 Rate expenses of #1,500 are apportioned in the ratio 1:2. What is the net profit of Y?
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Question 3 of 10
Which of the following is the capital reserve of a company
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Question 4 of 10
Given: Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows; On application 46k On allotment 20k 1st Call 15k 2nd Call 19k How much is to be paid for application?
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Question 5 of 10
The issued share capital is the number of shares that are
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Question 6 of 10
The distributable profit available to shareholders at the end of each year is the
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Question 7 of 10
The basis upon which assets of an organization is valued is the
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Question 8 of 10
An accountant must not only be interested in record keeping but also in
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Question 9 of 10
The correct posting in a double entry system of account when there is an increase in double assets, expenses, capital or liabilities is to debit
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Question 10 of 10
The capital of a sole trader can be increased by