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Accounts - Principles of Accounts Past Questions and Answers

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Jamb 2011 Accounts - Principles of Accounts Questions

Question 41:

The founders of a company are?

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A Promoters
B Shareholders
C Canvassers
D Stakeholders

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Question 42:

The fund in which all government receipt are paid is?

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A Consolidated revenue fund
B Development fund
C Trust fund
D Contingency fund

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Question 43:

Which of the following accounts for the highest revenue to Nigeria?

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A Import duties
B Personal income tax
C Petroleum income tax
D Company tax

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Question 44:

If Aboki Holdings Limited issued 120, 000 ordinary share of N2.00 each at market value of 5.50k each, the share premium would?

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A N500 000
B N450 000
C N550 000
D N420 000

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Question 45:

Which of the following is a signatory to federal government account?

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A Auditor-General
B Governor of Central Bank
C Accountant-General
D Persident

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