Jamb Accounting Past Questions For Year 2011
Question 16
Use the information below to answer question
i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Find the current assets?
- A. iii and v
- B. ii and i
- C. iv and v
- D. i and iv
Question 17
Use the information below to answer question
i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Determine the current liabilities?
- A. iii and v
- B. ii and iii
- C. iv and v
- D. i and ii
Question 18
Use the information below to answer questions 23 and 24.
Incomplete Record (Extract)
Sales......................................N10,600
Rent...........................N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
What is the cost of goods sold?
- A. N4 800
- B. N8 480
- C. N2 320
- D. N 9 900
Question 19
The control accounting can be used in?
- A. recording all the business transactions of the enterprise
- B. Keeping records of all direct deposit in the bank account
- C. monitoring the books of original entry
- D. monitoring the efficiency of bookkepping by accountants
Question 20
A typical example of a real account is?
- A. prepayment
- B. expenses
- C. plant
- D. income
