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Accounts - Principles of Accounts Past Questions and Answers

Topic: Nature and Significance of Book keeping and Accounting

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

Question 126:

The major objective of departmental accounts is to ascertain the?

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A Contribution of each department to profit
B Materials sold in each department
C Insurance premium payable on employees
D Number of employees in each department

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Question 127:

Which of the following accounts for the highest revenue to Nigeria?

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A Import duties
B Personal income tax
C Petroleum income tax
D Company tax

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Question 128:

An accountant must not only be interested in record keeping but also in

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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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Question 129:

Which of the following is a source of revenue to the federation account?

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A Market fees
B Bicycle licences
C Tarrifs
D Property rates

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Question 130:

The power to appoint the Auditor General of the Federation is vested in the

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A National Assembly
B President
C Judicial Service Commission
D Civil Service Commission

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