Jamb Accounting Past Questions For Year 2015
Question 51
What does liquidity ratio measure?
- A. measures operating efficiency of a company
- B. measures the ability of a company to meet its current obligations.
- C. measures the value of investments of a company
- D. measures the financial leverage of a company
Question 52
One of the items listed below will not be found in a company’s memorandum and article of association. Which is it?
- A. objects and their alteration
- B. location of business
- C. bank signatories
- D. powers of directors
Question 53
The following accounting entries are made when bad debt is recovered
- A. debit bad debts accounts and credit bad debt recovered account
- B. debit debtors accounts and recovered account
- C. debit bad debts recovered account and credit bad debts account
- D. debit bad debts account and credit profit and loss account
Question 54
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was
- A. error of principle
- B. error of commission
- C. error of original entry
- D. compensating error
Question 55
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?
- A. N1, 500
- B. N3, 000
- C. N1, 800
- D. N2, 000
