Jamb Accounting Past Questions For Year 1995
Question 21
Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Capital expenditure is
- A. N420,000
- B. N380,000
- C. N240,000
- D. N200,000
Question 22
Which of the following are sources of revenue for state government in Nigeria?
I Statutory allocation
II Fines from customary courts
III Petroleum tax
IV Income tax
- A. I and II only
- B. II and III
- C. I and IV
- D. III and IV
Question 23
Which of the following statement is correct about the head office current account and the branch current account?
- A. Both always have debit balances
- B. both always have credit balances
- C. the head office current account has a credit balance while the branch current account has a debit balance
- D. the head office current account has a debit balance while the branch current account has a credit balance
Question 24
The Asa branch of Emene company Ltd, made a sales of N549,000 from the goods sent from the head office during the period ended 31/12/94.
These sales were based on a 22% markup. If branch expenses were N34,400 and there were no discrepancies, what should be the profit of the branch for the period?
- A. N6,500
- B. N64,600
- C. N85,380
- D. N514,600
Question 25
Departmental accounts are maintained to ascertain the
- A. profits of the entire organization
- B. contribution of each department
- C. expenses of each department
- D. sales of each department
