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Wednesday, 13 May 2026
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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 686:
Which of the following is true of Uju Nig.Ltd?
  • A It is a highly geared company
  • B It has no liquidity problem in the short term
  • C It is adequately secured in fixed assets
  • D It's working capital is zero
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Question 687:
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
What was department Q's gross profit?
  • A N2 500
  • B N2 300
  • C N 2 200
  • D N1700
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Question 688:
Which of the following branches of accounting was first developed?
  • A Cost accounting
  • B Financial acounting
  • C Management accounting
  • D Petroleum accounting
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Question 689:
Which of the following branches of accounting was first developed?
  • A Cost accounting
  • B Financial acounting
  • C Management accounting
  • D Petroleum accounting
View Answer & Explanation
Question 690:
The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?
  • A Accruals
  • B Materiality
  • C Objectivity
  • D Periodicity
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