Jamb Accounts - Principles of Accounts Questions - Nature and Significance of Book keeping and Accounting
Question 51:
The current growth in the volume of trading and financial dealings in Nigeria is helped by?
- A Increased financial activities
- B Government intervention
- C Credit as a factor in business
- D Payment for goods in cash
Question 52:
Cost accounting entails the provision of information?
- A For investment purposes
- B For descision making
- C To shareholders
- D To stockholders
Question 53:
The main objective of accounting report is to provide information about?
- A A company's shareholding
- B An entity's management
- C The efficacy of assets
- D A company's economic resources
Question 54:
The accuracy of journalist is checked by?
- A Ensuring that debit totals equal credit totals
- B Posting all journal entries to ledger accounts
- C Adding all figures in the debit column
- D Comparing accounts in the ledger against the journals
Question 55:
For an incomplete record to provide necessary information, it must be converted to?
- A Complete records
- B Double entry records
- C Statement of affairs
- D Single entry