2000 - JAMB Accounting Past Questions and Answers - page 2

A business is required at par when the?

Given: cash book item: Paid to suppliers N10,800 Expenses paid N6,900 Drawings made N900 Balances at start N15,750 Balances at end N3,870 Drawings from bank to shop N1,720 Determine the receipt from debtors?

Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General indirect expenses N726 lubricants N1235 Carriage inwards N829 Factory power N350 Bank charges N612 Carriage outwards N2,900 Determine the total factory overhead cost?

Yola Social Club Statement of Account 1998 financial year 31/12/98: Subscription in arrears N21,000 Subscription in advance N12,000 Receipt during 1999: Arrears 1998 N21,000 Dues 1999 N48,000 Advance 2000 N11,000 The subscription transferable to the income and expenditure account is?

The most appropriate basis for apportioning inventory holding cost among departments is to use the value of?

The body constitutionally charged with the responsibility of examining the audited accounts of the Federation and other reports as referred by the National Assembly is the?

(i) Meet growth and diversification need. (ii) Reach out to particular customers or markets (iii) Comply with some regulatory directives (iv) Increase employees' income. Which of the reasons above do companies consider in establishing branches?

The channel through which all government borrowing and domestic lending transactions pass is called?

Recurrent expenditure are expenses for the period not exceeding?

A major benefit derived from the reconciliation of branch and head office books is to?