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Wednesday, 22 April 2026
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Accounts - Principles of Accounts Past Questions and Answers

Topic: Nature and Significance of Book keeping and Accounting

Jamb Accounts - Principles of Accounts Questions - Nature and Significance of Book keeping and Accounting

Question 96:
Use the information above to answer questions
Lighting..................N2925
Rent......................N2640
Salary....................N4050
The expenses are for three different product:
Zema, Zeta and Zera. They are appointed on the basis of population. 4500 units of the products are produced, out of which 1260 and 2060 units are for zema and zeta respectively.
The lighting charge to be apportioned to zema is?
  • A N891
  • B N819
  • C N927
  • D N975
View Answer & Explanation
Question 97:
Use the information above to answer questions
Lighting..................N2925
Rent......................N2640
Salary....................N4050
The expenses are for three different product:
Zema, Zeta and Zera. They are appointed on the basis of population. 4500 units of the products are produced, out of which 1260 and 2060 units are for zema and zeta respectively.
Find the salary charged to Zera product?
  • A N1854
  • B N1845
  • C N1062
  • D N1134
View Answer & Explanation
Question 98:
A pension granted to any past president or vice-president shall be charged to the?
  • A Consilidation revenue fund
  • B Special pension fund
  • C Contingency fund
  • D Development fund
View Answer & Explanation
Question 99:
Use the information below to answer question
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
What will be the equity of the business?
  • A N12 800
  • B N4900
  • C N8200
  • D N9500
View Answer & Explanation
Question 100:
The fourth stage of the accounting information system is?
  • A Recording
  • B Interpreting
  • C Summarizing
  • D Classifying
View Answer & Explanation