Finally, you came to the right place. Congrats! So you are through with your O’Level and it’s time for you to secure admission into tertiary institution? Well, you already know that you need to pass the Joint Admissions and Matriculation Board (JAMB) examination to make this dream a reality. I’m confident that you need the complete Principles of Accounts JAMB past questions and answers PDF? Worry no more because we at PROJECTS.ng have compiled all the best JAMB past questions and answers on Principles of Accounts that will help you prepare for your JAMB examination. Continue reading to learn how to download the complete Principles of Accounts JAMB past questions and answers PDF FREE and Premium versions instantly. Believe me, it’s pretty straightforward.
WHAT IS INSIDE THIS Principles of Accounts JAMB PAST QUESTIONS AND ANSWERS PDF FREE AND PREMIUM VERSIONS?
The File Details
- Name: Principles of Accounts JAMB Past Questions and Answers
- Type: PDF
- Size: 989KB
- Length: 38 Pages
Inside this Principles of Accounts JAMB past questions and answers PDF are several years of Principles of Accounts JAMB examination past questions and answers including the most recent JAMB examinations because we update it every year. You will be happy to get this and start getting prepared right away. You sure need to pass this exam, and believe me, you will.
Recommended: See All the Latest JAMB News
HOW TO INSTANTLY DOWNLOAD THIS Principles of Accounts JAMB PAST QUESTIONS AND ANSWERS PDF FREE AND PREMIUM VERSIONS
Downloading the Principles of Accounts JAMB past questions and answers PDF on PROJECTS.ng is pretty straightforward. Please see the end of this page to learn how to download it.
Note: The main purpose of this past question and answer is to reveal to you the nature and scope of the JAMB examination as well as help you gain confidence before the examination. We at PROJECTS.ng, cannot categorically tell you that the actual questions for the examination will come from this Principles of Accounts JAMB past questions and answers PDF. Nevertheless, we are confident that you will be on the fly after preparing your memory with this resource here.
JAMB Past Questions and Answers on Principles of Accounts
Below is some part of the contents of the Principles of Accounts JAMB past questions and answers PDF FREE.
Principles of Accounts
1. The term ‘accounting period’ is used to refer to the
A. time span during which taxes are paid to the Inland Revenue Board
B. Budget period, usually one year, relied on by the accountant
C. time span, usually one year covered by financial statement
D. period within which debtors are expected to settle accounts.
2. Assigning revenues to the accounting period in which goods were sold or services rendered and expenses incurred is known as
A. passing of entries
B. consistency convention
C. matching concept
D. adjusting for revenue.
3. The accounting convention which states that ‘profitmust not be recognized until realized while all losses should be adequately provided for’ is termed
4. Accounting information is used by investors and creditors of a company to predict
A. future cash flows of the company
B. future tax payments of the company
C. potential merger candidates for the company
D. appropriate remuneration for the company’s staff.
5. Antics ElectronicsCompany recently bought six generators. Which of the following is the correct method of recording this transaction.
A.Debit generator account and credit cash account.
B. Debit purchases account and credit cash account.
C. Debit cash account and credit purchases account.
D. Debit cash account and credit generator account.
6. When a business incurs labours cost in installing a fixed asset, the cost is treated as
A. additional cost to the asset
B. business wages and salaries
C. installation cost of the asset
D. business cost of the asset.
7. What is the cardinal rule of the double entry system?
A. Debit the increasing account and credit the decreasing account.
B. Debit the receiving account and credit the giving account.
C. Debit the asset account and credit the liability account.
D. Debit the revenue account and credit the expenditure account.
8. Malam Gambo bought a freezer for his shop costing N10,500. In recording, he debited office expenses account and credited the bank account.What book keeping error has he committed?
A. Error of commission
B. Error of reversal of
C. Error of principle.
D. Compensation error.
9. The use of the folio in the ledger is for
A. Referencing purposes
B. Particulars of the transaction
C. the account titles
D. Only credit items.
A SCREENSHOT FROM THE Principles of Accounts JAMB PAST QUESTIONS AND ANSWERS PDF
See also: JAMB Past Questions and Answers for other subjects.