Jamb Accounting Past Questions For Year 2006
Question 46
Determine the value of closing stock using the LIFO method
- A. N2 000
- B. N2500
- C. N4000
- D. N35000
Question 47
Assuming the closing stock was valued at N19 000 at the end of November, what was the gross profit?
- A. N30 000
- B. N50 000
- C. N70 000
- D. N100 000
Question 48
X represents
- A. bank charges
- B. an unpresented cheque
- C. dividends
- D. an uncredited cheque
