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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 1356:
The value of the sales ledger control account is derived from the summation of the
  • A Total creditors control account
  • B Total debtors control account
  • C All day books
  • D Both the debtors and creditors accounts
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Question 1357:
The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of
  • A Goods manufactured
  • B Materials put into production
  • C Goods available for sale
  • D Goods sold
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Question 1358:
The power to appoint the Auditor General of the Federation is vested in the
  • A National Assembly
  • B Civil Service Commission
  • C Judicial Service Commission
  • D President
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Question 1359:
In trial balance, income and liabilities are
  • A Credited
  • B Credited and debited respectively
  • C Debited and credited respectively
  • D Debited
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Question 1360:
The rules which govern the internal management of a firm and its financial affairs in a partnership business is a
  • A Memoransum
  • B Deed
  • C Financial regulation
  • D Bye-law
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