2009 - JAMB Accounting Past Questions and Answers - page 5
41
Provision for bad and double debts in companies final accounts is treated in?
A
trading account
B
profit and loss account
C
fund flow statement
D
cash flow statement
42
One of the reasons for the existence of the public sector is to?
A
Take adequate care of the needy
B
supplement the commerical sector
C
provide cheap services to all citizens
D
correct perceived inequalities
43
A
N10,000
B
N90,000
C
N105,600
D
N110,000
44
A
N95,600
B
N95,000
C
N9,600
D
N85,000
45
Use the information to answer the question.
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
The insurance premium to be taken to the profit and loss account would be.
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
The insurance premium to be taken to the profit and loss account would be.
A
N1,340
B
N1,850
C
N1,990
D
2,210
46
Use the information to answer the question.
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
What amount is to be credited to the profit and loss account in respect of rent income?
..........................30/9/06.......30/9/07.....
............................N.............N.........
Accrued insurance premium...600...........710.......
Prepaid rent income.........490............630......
The cash book includes N1,850 and N,2,100 in respect of insurance premium and rent income respectively.
What amount is to be credited to the profit and loss account in respect of rent income?
A
N1,710
B
N1760
C
N2000
D
N2240
47
The book value per share is obtained by dividing?
A
shareholders equity by outstanding shares
B
total assets by outstanding shares
C
gross profit by outstanding shares
D
net profit by outstanding shares
48
Expenditure incurred on consumables and goods for resale is?
A
revenue expenditure
B
capital expenditure
C
sunk cost
D
miscellanous expenses
49
Replacement and renewal of fixed assets are?
A
revenue receipt
B
capital receipt
C
capital expenditure
D
revenue expenditure
50
Which of the following is credited to the consolidated revenue fund?
A
Recurrent expenditure
B
Capital expenditure
C
Transfer to revenue fund
D
International revenue
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