Jamb Accounting Past Questions For Year 2008
Question 31
Given:
(i) Cost price (ii) Selling price (iii) Cost plus fixed percentage (iv) Price above cost and selling price
From the information above, the prices used in charging goods to the branches are?
- A. i and ii
- B. i, ii and iii
- C. i, ii, iii and iv
- D. iii and iv
Question 32
The main reason for adopting a departmental account is to?
- A. record transactions for each department for betterdocumentation
- B. tackle any recording problem as a result of expansion
- C. continuously evaluate the profitability of different departments
- D. ensure that departmental mangers are adequately monitored
Question 33
Given:
Subscription in arrears 01/10/06...........N2 000
Subscription in advance 01/10/06...........N1 500
Subscription paid during the year..........N7 000
Subscription in arrears 31/12/06...........N3 000
Determine the amount of subscription included in the income and expenditure account for the year?
- A. N3500
- B. N7000
- C. N9500
- D. N13 500
Question 34
Ordinary shareholders received dividend before?
- A. creditors
- B. debtors
- C. preference shareholders
- D. deferred shareholders
Question 35
Cash received from the subscribed shares is recorded by debting?
- A. application, allotment and crediting cash
- B. allotment and crediting cash
- C. cash and crediting subscribed shares
- D. cash, crediting application and allotment account
