Jamb Accounting Past Questions For Year 2011
Question 36
The two accounts that are normally opened in the head office when goods are transferred to a branch are?
- A. branch supplies and branch receipts
- B. branch stock account and goods sent to branch accounts
- C. goods sent to brannch account and branch receipt account
- D. goods sent to branch accounts and branch supplies
Question 37
The correct entries to record goods transferred to branch from head office is to debit?
- A. branch stock account and credit goods sent to branch account
- B. branch supplies account and credit branch stock account
- C. branch stock account and credit purchases account
- D. goods sent to branch account and credit branch stock account
Question 38
The fund in which all government receipt are paid is?
- A. consolidated revenue fund
- B. development fund
- C. trust fund
- D. contingency fund
Question 39
The founders of a company are?
- A. promoters
- B. shareholders
- C. canvassers
- D. stakeholders
Question 40
Goodwill is determined using?
- A. capital contribution
- B. number of partnerd admitted
- C. the business and customer relations
- D. number of active partners
