Joint Admission and Matriculation Board Questions and Answers on Financial Accounting, JAMB Accounting, Possible forty JAMB questions and solutions on Accounting | In this exam guide, I could be displaying you beyond JAMB Economics random repeated questions for free. You will recognize how JAMB Accounting questions are set and lots of different exam details.
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JAMB Accounting Questions and Answers (Expo)
- The officer answerable for ascertaining whether or not all public expenditure and appropriation are in time with the accepted tenet is the
- Auditor General
ANSWER: C (Auditor General)
- The coins foundation of accounting calls for the popularity of sales handiest once they are
- despatched Out
ANSWER: D (Received)
- Responsibility accounting is especially involved with
- variable fee
- constant fee
- controllable costs
- uncontrollable costs
ANSWER: C (Controllable costs)
- Earnings according to proportion is a degree of
ANSWER: B (Profitability)
- Subscription owned with the aid of using contributors of a membership is a/an
- membership ownership
ANSWER: C (Asset)
- The subscription paid earlier is handled withinside the stability sheet of a membership as
ANSWER: A (liability)
- The motion of products from head workplace to department is handled withinside the head workplace bills as
- items transfer
- items migration
ANSWER: A (Sales)
- Which of the subsequent is a not unusualplace purpose of the discrepancy among head workplace and department trial stability
- creditor in transit
- debtor and coins in transit
- coins in transit
- coins motion
ANSWER: B (Debtors and coins in transit)
- Which kind of inventory valuation technique might a vegetable vendor undertake in valuing its product?
ANSWER: D (FIFO)
- The transactions referring to liquidation in partnership account is drawn with the aid of using using
- credit score account
- debit account
- coins account
- belongings account
ANSWER: A (coins account)
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JAMB Registration Statistics
- The bargain column of a 3 column cashbook isn’t always balanced off however periodically transferred to the bargain account due to the fact discounts?
- aren’t critical in cashbooks.
- are coins gadgets handiest.
- do now no longer shape a part of double entry.
- are used for financial institution reconciliation.
- When is a petty coins account debited?
- When the fund is set up and each time cash is spent.
- When the fund is set up and each time it’s far replenished.
- When the fund is set up and whilst the dimensions of the glide is decreased.
- Every time cash is drawn from the petty coins.
- When making ready a financial institution reconciliation announcement, which of the subsequent is deducted from the stability according to financial institution announcement?
- Bank charges.
- Uncleared cheques.
- Returned cheques.
- unpresented cheques.
- The monetary role of an employer at a specific time may be ascertained from the?
- announcement of reassets and alertness of funds
- announcement of retained earnings
- stability sheet
- earnings and loss account
Items Price (Naira)
Carriage inwards 5,000
Carriage outwards 5,000
Opening inventory 10,000
Closing inventory 5,000
- What is the fee of products offered?
- The internet earnings or loss for the yr is decided in earnings and loss account after?
- deducting purchases from income
- deducting fee of products offered from income and including administrative prices
- including commissions obtained to gross earnings
- getting rid of all prices from gross earnings and including every other profits
- If a terrible debt formerly written off is finally repaid, the quantity gathered is recorded as an
- profits withinside the earnings and loss account
- profits withinside the stability sheet
- extra coins withinside the earnings and loss account
- fee withinside the stability sheet
- Beginning and finishing bills receivable balances had been N8,000 and N15,000 respectively. If collections from clients all through the duration had been N36,000, then general income on account might be
- From which of the subsequent reassets are lenders manipulate account maximum possibly to be posted?
- supplier’s invoices
- coins disbursements journal
- subsidiary borrowers ledger
- purchases journal
20 Which of the subsequent classes of labour fee could be labeled as direct?
- accountant’s salary
- manufacturing facility workers’ salary
- handling director’s salary
- cashier’s salary