Jamb 2016 Accounts - Principles of Accounts Questions
Question 6:
One of the objectives of accounting is that it can be used for
- A Business decision making
- B Due process in business
- C Motivating employees
- D Determining the work force
Question 7:
The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a
- A Return on capital employed
- B Gross profit margin
- C Net profit margin
- D Return on equity
Question 8:
The instrument used in analysis and interpretation of financial statement is the
- A Accounting ratios
- B Income and expenditure extract
- C Balance sheet extract
- D Found accounting
Question 9:
An item in the balance sheet of a limited liability company is
- A Accrued expenses
- B Lighting and heating
- C Salaries and wages
- D General expenses
Question 10:
The documents that provide instant information to firms on their tranactions with banks are
- A Bank statement and debit note
- B Cheque book and cashbook
- C Cheque stub and deposit slip
- D Payslip and credit invoice