Jamb Accounting Past Questions For Year 2016
Question 6
Which of the following is the capital reserve of a company?
- A. Accumulated depreciation
- B. Retained profit
- C. Share premium
- D. Loss on forfeited shares
Question 7
The documents that provide instant information to firms on their tranactions with banks are
- A. bank statement and debit note
- B. cheque book and cashbook
- C. cheque stub and deposit slip
- D. payslip and credit invoice
Question 8
An item in the balance sheet of a limited liability company is
- A. accrued expenses
- B. lighting and heating
- C. salaries and wages
- D. general expenses
Question 9
The instrument used in analysis and interpretation of financial statement is the
- A. accounting ratios
- B. income and expenditure extract
- C. balance sheet extract
- D. found accounting
Question 10
The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a
- A. return on capital employed
- B. gross profit margin
- C. net profit margin
- D. return on equity
