Jamb Accounting Past Questions For Year 2008
Question 41
The salary of the chief Justice of the Federation is paid from the?
- A. consolidated revenue fund
- B. development fund
- C. contigency fund
- D. special fund
Question 42
A source of revenue that is compulsory payment without any derived benefit is?
- A. fees
- B. taxes
- C. fines
- D. royalties
Question 43
Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
What is the gross profit?
- A. N88 200
- B. N76 800
- C. N 19 200
- D. N12 900
Question 44
Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?
- A. N4075
- B. N4240
- C. N3315
- D. N3075
Question 45
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
What was department Q's gross profit?
- A. N2 500
- B. N2 300
- C. N 2 200
- D. N1700
