JAMB Accounting Questions and Answers for 2022/2023 (CBT)

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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.

 

Welcome to JAMB Accounting questions and solutions for the 2022/2023 CBT exams. I accept as true with you’re one of the applicants looking on-line for JAMB 2022 Accounting questions and solutions. If that’s true, right here is the proper vicinity for you.

 

JAMB Accounting Questions and Answers (Expo)

  1. The officer answerable for ascertaining whether or not all public expenditure and appropriation are in time with the accepted tenet is the

 

  1. Creditor

 

  1. Cashier

 

 

  1. Auditor General

 

  1. Bursar

 

ANSWER: C (Auditor General)

 

  1. The coins foundation of accounting calls for the popularity of sales handiest once they are

 

  1. despatched Out

 

  1. documented

 

  1. lost

 

D obtained

 

ANSWER: D (Received)

 

  1. Responsibility accounting is especially involved with

 

  1. variable fee

 

  1. constant fee

 

  1. controllable costs

 

  1. uncontrollable costs

 

ANSWER: C (Controllable costs)

 

  1. Earnings according to proportion is a degree of

 

  1. loss

 

  1. earnings

 

  1. profits

 

  1. expenditure

 

ANSWER: B (Profitability)

 

  1. Subscription owned with the aid of using contributors of a membership is a/an

 

  1. liability

 

  1. belongings

 

  1. Asset

 

  1. membership ownership

 

ANSWER: C (Asset)

 

  1. The subscription paid earlier is handled withinside the stability sheet of a membership as

 

  1. liability

 

  1. fee

 

  1. asset

 

  1. expenditure

 

ANSWER: A (liability)

 

  1. The motion of products from head workplace to department is handled withinside the head workplace bills as

 

  1. income

 

  1. profits

 

  1. items transfer

 

  1. items migration

 

ANSWER: A (Sales)

 

  1. Which of the subsequent is a not unusualplace purpose of the discrepancy among head workplace and department trial stability

 

  1. creditor in transit

 

  1. debtor and coins in transit

 

  1. coins in transit

 

  1. coins motion

 

ANSWER: B (Debtors and coins in transit)

 

  1. Which kind of inventory valuation technique might a vegetable vendor undertake in valuing its product?

 

  1. FiFQ

 

  1. FFO

 

  1. FIFE

 

  1. FIFO

 

ANSWER: D (FIFO)

 

  1. The transactions referring to liquidation in partnership account is drawn with the aid of using using

 

  1. credit score account

 

  1. debit account

 

  1. coins account

 

  1. belongings account

 

ANSWER: A (coins account)

 

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JAMB Registration Statistics

  1. 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?

 

 

  1. aren’t critical in cashbooks.

 

  1. are coins gadgets handiest.

 

  1. do now no longer shape a part of double entry.

 

  1. are used for financial institution reconciliation.

 

  1. When is a petty coins account debited?

 

  1. When the fund is set up and each time cash is spent.

 

  1. When the fund is set up and each time it’s far replenished.

 

  1. When the fund is set up and whilst the dimensions of the glide is decreased.

 

  1. Every time cash is drawn from the petty coins.

 

  1. When making ready a financial institution reconciliation announcement, which of the subsequent is deducted from the stability according to financial institution announcement?

 

  1. Bank charges.

 

  1. Uncleared cheques.

 

  1. Returned cheques.

 

  1. unpresented cheques.

 

  1. The monetary role of an employer at a specific time may be ascertained from the?

 

  1. announcement of reassets and alertness of funds

 

  1. announcement of retained earnings

 

  1. stability sheet

 

  1. earnings and loss account

 

Given;

 

Items Price (Naira)

Purchases 20,000

Sales forty,000

Carriage inwards 5,000

Carriage outwards 5,000

Opening inventory 10,000

Closing inventory 5,000

  1. What is the fee of products offered?

 

  1. N30,000

 

  1. N25,000

 

  1. N20,000

 

  1. N15,000

 

  1. The internet earnings or loss for the yr is decided in earnings and loss account after?

 

  1. deducting purchases from income

 

  1. deducting fee of products offered from income and including administrative prices

 

  1. including commissions obtained to gross earnings

 

  1. getting rid of all prices from gross earnings and including every other profits

 

  1. If a terrible debt formerly written off is finally repaid, the quantity gathered is recorded as an

 

  1. profits withinside the earnings and loss account

 

  1. profits withinside the stability sheet

 

  1. extra coins withinside the earnings and loss account

 

  1. fee withinside the stability sheet

 

  1. 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

 

  1. N23,000

 

  1. N29,000

 

  1. N36,000

 

  1. N43,000

 

  1. From which of the subsequent reassets are lenders manipulate account maximum possibly to be posted?

 

  1. supplier’s invoices

 

  1. coins disbursements journal

 

  1. subsidiary borrowers ledger

 

  1. purchases journal

 

20 Which of the subsequent classes of labour fee could be labeled as direct?

 

  1. accountant’s salary

 

  1. manufacturing facility workers’ salary

 

  1. handling director’s salary

 

  1. cashier’s salary

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