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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 191:

The main difference between the ordinary and preference shareholders is that?

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A The former have voting rights while the latter do not
B In the case of winding up, the former are paid first before the latter
C The latter are not members of the company while the former are
D The former receives dividends while the latter do not

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Question 192:

The current growth in the volume of trading and financial dealings in nigerian is helped by?

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A Credit as a factor in business
B Payments for goods in cash
C Increased financial activities
D Government intervention

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Question 193:

	N
sales	20,000
cost of sales	10,000
operating expenses	2,500
expenses prepaid included in operating expenses	500

use the information above to answer the following question.

calculate the net profit.

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A N12,500
B N10,000
C N8,000
D N7,500

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Question 194:

The basic role of accounting is to?

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A Detect fraud
B Attest to financial statements
C Measure performance
D Protect shareholders

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Question 195:

Accounts can be classified into

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A Cash and credit transactions
B Cash and credit accounts
C Personal and private account
D Personal and impersonal account

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