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2008 - JAMB Accounting Past Questions and Answers - page 5

41

Which of the following is among the categories of government cash book?

A
Receipt cash book
B
Payment cash book
C
Petty cash book
D
Treasury cash book
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42

The Auditor General of the Federation can be removed by the?

A
National Assembly
B
Chief Justice
C
The president
D
Head of Service
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43

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
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44

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
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45

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%

Determine the closing stock

A
N76 800
B
N67 800
C
N14 100
D
N11 400
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46

Give:

  1. Ascertainment of the particulars of the proposed company

II. Preparation of the incorporation documents

III. Filling of the documents

IV. Registration of the company

From the information above, the stages involved in the formation of a company are

A
I, II and III
B
I, II, III and IV
C
I,IIand IV
D
II, III and IV
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47
The debit ratio is approximately
A
43%
B
42%
C
41%
D
23%
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48
Which of the following is true of Uju Nig.Ltd?
A
It is a highly geared company
B
It has no liquidity problem in the short term
C
It is adequately secured in fixed assets
D
It's working capital is zero
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49
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
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50
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200

Department P's net profit was

A
N5 200
B
N3000
C
N2800
D
N2 500
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