Jamb Accounting Past Questions For Year 2012
Question 16
Which of the following is an item of special assets?
- A. Fixed assets
- B. Current assets
- C. Trademark
- D. Gratuity
Question 17
At the end of a financial period, the trading
profit and loss account of a sole trader
shows a profit of #180,000. it is however
discovered that revenue of #15,000 is
recorded as expenses while expenses of
#4,000 is recorded as revenue.
The revenue to be added as an adjustment is
- A. #34,000
- B. #30,000
- C. #15,000
- D. #4,000
Question 18
Total production cost- #360,000
Factory overhead cost- #56,000
Selling price per unit- # 120
Production volume 4000 units
What is the total manufacturing profit?
- A. #64,000
- B. #120,000
- C. #360,000
- D. #480,000
Question 19
In manufacturing accounts, finance expenses are charged to the
- A. departmental account
- B. trading acount
- C. profit and loss account
- D. balance sheet
Question 20
Which of the following is a debit item in the sales ledger control account
- A. Cheque reciepts
- B. Dishonoured cheques
- C. Discount allowed
- D. Bills recievable
