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Thursday, 23 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 161:
The accounting concepts which assumes that business will continue to be in existence into the foresee ablefure is
  • A Periodicity
  • B Business entity
  • C Dual aspect
  • D Going concern
View Answer & Explanation
Question 162:
One of the objectives of accounting is that it can be used for
  • A Business decision making
  • B Due process in business
  • C Motivating employees
  • D Determining the work force
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Question 163:
The instrument used in analysis and interpretation of financial statement is the
  • A Accounting ratios
  • B Income and expenditure extract
  • C Balance sheet extract
  • D Found accounting
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Question 164:
The documents that provide instant information to firms on their tranactions with banks are
  • A Bank statement and debit note
  • B Cheque book and cashbook
  • C Cheque stub and deposit slip
  • D Payslip and credit invoice
View Answer & Explanation
Question 165:
An organization which has records of only personal accounts is said to be operating on the basis of
  • A Single entry
  • B Real accounts
  • C Nominal accounts
  • D Double entry
View Answer & Explanation