Jamb Accounts - Principles of Accounts Questions
Question 86:
THE BOOK VALUE OF THE ASSET AS AT 31/12/86 WAS
- A N 3 731 250.00
- B N 2 487 500.00
- C N 1 268 750.00
- D N1 020 000. 00
Question 87:
Trade creditors account was maintained at 25% of the capital.
What was the balance in the trade creditors account as at 31/12/92?
- A N 29 800
- B N 29 500
- C N29 400
- D N 29 000
Question 88:
What was the balance showed wages, N2 500 and a note stated that N 500 wages were due but unpaid when preparing final accounts and loss account with
- A N 3 000 and show wages accrued N 500 in the balance sheet
- B N2 000 and show wages accrued N500 in the balance sheet
- C N 3 000 and show wages perpaid N 500 in the balance sheet
- D N 2000 and show wages paid in advance N500 in the balace sheet
Question 89:
The most important reason for studying accounting is that
- A The information provided by accounting is useful in making decision
- B Accounting plays an important role in the society
- C The study of Accounting leads to challeging career
- D Accounting provides gross profit information
Question 90:
The most important reason for studying accounting is that
- A The information provided by accounting is useful in making decision
- B Accounting plays an important role in the society
- C The study of Accounting leads to challeging career
- D Accounting provides gross profit information