Search SchoolNGR

Friday, 24 April 2026
Register . Login

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 226:
In company account, dividend payments are effected in which of the following accounts?
  • A Realization
  • B Current
  • C Appropriation
  • D Capital
View Answer & Explanation
Question 227:
The authority warrant issued prior to the approval of the appropriate bill at the begining of the year
  • A Contigencies
  • B Reserved expenditure warrant
  • C Annual general warrant
  • D Provisional general warrant
View Answer & Explanation
Question 228:
The principle of double entry developed from the axioms of accounting equation is given as
  • A Liabilties + Equity = Net assets
  • B Assets + Equity = Liabilities
  • C Liabilities + Equity = Assets
  • D Assets + Liability = Equity
View Answer & Explanation
Question 229:
Which of the following is not charged to manufacturing account?
  • A Raw materials
  • B Factory wages
  • C Direct expenses
  • D Distribution expenses
View Answer & Explanation
Question 230:
The accounting system in which only one aspect of transaction is recorded is ____________
  • A Single entry
  • B Single column cash book
  • C Original entry
  • D Double entry
View Answer & Explanation