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Question 1 of 10
The capital of not-for-profit-making organization is referred to as?
JAMB Accounting Past Questions - Set 54
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 54 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 54 covers questions from JAMB exams (2011).
Progress0 / 10 answered
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Question 2 of 10
The major objective of departmental accounts is to ascertain the?
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Question 3 of 10
The transactions relating to liquidation in partnership account is drawn by using?
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Question 4 of 10
The cost method of charging goods to branch is used where?
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Question 5 of 10
The correct entries to record goods transferred to branch from head office is to debit?
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Question 6 of 10
The two accounts that are normally opened in the head office when goods are transferred to a branch are?
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Question 7 of 10
Goods invoiced to a branch can be sent using?
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Question 8 of 10
The major point of agreement carried by the partnership deed is?
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Question 9 of 10
Use the information below to answer questions 40 and 41. Keme and Kemi are in partnership sharing profit and losses in the ratio 3:2. Capital - Keme.............N20 000 ........ - Kemi.............N10 000 Drawings - Keme.............N2 000 ........ - Kemi.............N3 000 Profit......................N6 000 Interest on capital.........5% Interest on drawings........10% The interest on Kemi's capital is?
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Question 10 of 10
The interest on Keme's drawings is calculated as?