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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 81:
A government accounting systems must make sure that
  • A Revenue exceeds expenditure
  • B All applicable legal provisions are complied with
  • C Capital expenditure is equal to revenue
  • D Capital project fund is tied to recurrent expenditure
View Answer & Explanation
Question 82:
Equity shareholders' fund is
  • A N133 000
  • B N 120 000
  • C N113 000
  • D N 100 000
View Answer & Explanation
Question 83:
If a 10% dividend is approved, what is the dividend payable to ordinary shareholders?
  • A N 13 000
  • B N 11 300
  • C N 10 000
  • D N 8 000
View Answer & Explanation
Question 84:
A charitable club has the following figures:
N
Subscriptions received in 1991 2 800
Subscriptions unpaid in 1990 300
Subscriptions paid for 1992 150
Subscriptions due 1991 180
How much should be charged to the income and expenditure of this club as subscription for 1991?
  • A N 2 530
  • B N 2 680
  • C N 2 830
  • D N 2 980
View Answer & Explanation
Question 85:
Accumulated depreciation on the asset as at 31/12/81 was
  • A N 2 487 500 .00
  • B N 2 736 250 . 00
  • C N 4 511 192.00
  • D N 4 975 000 .00
View Answer & Explanation