Jamb Accounting Past Questions For Year 2006
Question 21
Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.
This concept is called?
- A. entity
- B. materiality
- C. realization
- D. accrual
Question 22
which of the following is source of document for the preparation of debtors' ledger account?
- A. Debit note
- B. General journal
- C. Purchases invoice
- D. Sales invoice
Question 23
A major factor that enhanced the early development of accounting is the?
- A. Industrial Revolution
- B. growing of trade and commerce
- C. development of arithmetic
- D. invention of writing
Question 24
The use of a three-column cash book is determine by?
- A. cash discounts
- B. trade discounts
- C. cash transactions
- D. bank transactions
Question 25
Use the information below were to answer questions
...................Stationary Dept.............Video Dept.
Sales ..............N10,600.....................N15,175
Cost of goods sold..N5,247......................N6704
The expenses incurred were rent N4500, motor repairs N1200 and telephone N900.
The basis of cost apportionment is 1/2 stationary 1/3 video.
Find the total expenses allocated to the stationary department?
- A. N3600
- B. N1400
- C. N4400
- D. N3800
