2010 JAMB Accounts Past Questions & Answers - page 1

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1
The capital contribution by the partners is treated in the?

A
current account
B
capital account
C
trading account
D
balance sheet

Correct Option: B

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2
Given:

N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000

Find the value of authorized share capital?

A
13 000 000
B
12 000 000
C
9 000 000
D
15 700 000

Correct Option: C

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3
The directors' salaries paid are items of?

A
current liabilities
B
profit and loss account
C
trading account
D
current account

Correct Option: B

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4
Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800.
A provision of 2% was made for discount and 5% provision for bad and doubtful debts.

Find the amount for sundry debtors after provision?

A
N760 000
B
N744800
C
N744 000
D
N784 000

Correct Option: C

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5
The financial plan of the government for a year is contained in the?

A
budget
B
cash analysis book
C
vote book
D
gazette

Correct Option: A

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6
An ordinary share of N80 was issued at N96. The share was issued at?

A
premium
B
par
C
discount
D
loss

Correct Option: A

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7
An increase in government expenditure within a year is taken care of by means of?

A
financial regulations
B
virement
C
warrant
D
supplementary estimate

Correct Option: D

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8
As evidence of payments to a government ministry, the revenue collectors will issue?

A
treasury receipt
B
receipts vourcher card
C
treasury card
D
stores receipts vourcher

Correct Option: A

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9
JAMB Accounts question image 14
How much rent is apportioned to department K?

A
N1200
B
N1800
C
N2000
D
N750

Correct Option: A

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10
JAMB Accounts question image 15
How much selling and distribution expenses is apportioned to department M?

A
N 800
B
N 600
C
N400
D
N1800

Correct Option: A

No further explanations yet...

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