Jamb Accounting Past Questions For Year 2004
Question 36
On dissolution, the final distribution of cash to partners is based on?
- A. patnership agreement
- B. Articles os asssociation
- C. goodwill
- D. capital balances
Question 37
Transfers from the head office to branches are best carried out at?
- A. cost price
- B. selling price
- C. cost plus mark-up
- D. market price
Question 38
Discounts granted branch customers are treated as a debit to branch?
- A. stock account and a credit to branch debtors'account
- B. discount account and a credit to branch bank account
- C. stock account and a credit to branch bank account
- D. discount account and a credit to branch debtors' account
Question 39
How are credit sales by a department treated?
- A. the same way as normal debtors' transactions
- B. in a different way from normal debtors' transactions
- C. as an addition to the production manager's account
- D. as an addition to the production managers' account
Question 40
A rapidly growing business organization with multiple units that is interested in comparing the performances and weaknesses of each unit should adopt?
- A. manufacturing accounts
- B. consolidated accounts
- C. departmental accounts
- D. joint venture accounts
