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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 26:
In departmental accounting, which is not a transfer pricing_________
  • A Cost based transfer price
  • B Market based transfer pricing
  • C Dual pricing system
  • D Peak pricing
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Question 27:
What act generally includes completing unfinished partnership business, collecting and paying debts, collecting partnership assets to be turned into cash and taking inventory?
  • A Formation
  • B Dissolution
  • C Winding up
  • D Termination
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Question 28:
Using the following:
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦300, unpresented cheque ₦5000.
what is the adjusted cashbook balance?
  • A 4000
  • B 300
  • C 4300
  • D 5000
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Question 29:
Branch stock adjustment account is prepared at?
  • A Cost price
  • B New price
  • C Invoice price
  • D Normal price
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Question 30:
A partnership deed is used to____________
  • A Promote mutual understanding
  • B Enhance mistrust
  • C Encourage discrepancy
  • D Control funds
View Answer & Explanation