Jamb 2017 Accounts - Principles of Accounts Questions
Question 46:
The correct expression of accounting equation is
- A Assets = Liabilities + Equity
- B Net assets = Liabilities + Equity
- C Assets + Liabilities = Equity
- D Assets = Equity - liabilities
Question 47:
Subscription in advance is treated in the balance sheet as a
- A Current asset
- B Current liability
- C Fixed asset
- D Long term liability
Question 48:
Which of these is a content of a master file?
- A All records relevant to the organisation.
- B Records of assets of the organisation
- C A collection of data items
- D All records relating to employees
Question 49:
An evidence of payment issued to a government ministry by a revenue collector is
- A Treasury receipt
- B Receipt voucher
- C Payment voucher
- D Treasury card
Question 50:
A part of public company's profits belonging to the shareholders is
- A Public issue
- B Bonus
- C Right issue
- D Dividends