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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 836:
Which of the following signs general warrant for the release of money from the consolidated revenue fund?
  • A Minister of Finance
  • B Chairman, Economic Advisory Committee
  • C Permanent secretary
  • D Minister of Economic Planning
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Question 837:
Find the average stock for the period
  • A N27 000
  • B N23 000
  • C N28 000
  • D N20 500
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Question 838:
The basis upon which assets of an organization is valued is the
  • A Historical concept
  • B Business entity concept
  • C Periodicity concept
  • D Materiality concept
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Question 839:
The basis upon which assets of an organization is valued is the
  • A Historical concept
  • B Business entity concept
  • C Periodicity concept
  • D Materiality concept
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Question 840:
An accountant must not only be interested in record keeping but also in
  • A The application of professional competency
  • B The accuracy of postings
  • C The casting of financial figures
  • D Effective preparation of balance sheet
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