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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 241:
In order to make the cash book balance equal to the bank statement, it is usual to add?
  • A Uncredited cheques
  • B Direct payments by bank
  • C Bank charges
  • D Unpresented cheques
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Question 242:
Use the information below to answer question 4 and 5.
Sales N20,000
Cost sales N10,000
Operating expenses N2,500
Expenses prepaid included
in operating expenses N500
Calculate the net profit?
  • A N12,500
  • B N10,000
  • C N8,000
  • D N7,500
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Question 243:
what is the gross profit margin?
  • A N100%
  • B N50%
  • C N40%
  • D N30%
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Question 244:
The main objective of bookkeeping is to record economic?
  • A Transactions systematically for routine managerial decision-making
  • B Events clearly to ensure adequate checks and balances
  • C Events clearly to facilitate strategic managerial desicion-making
  • D Transaction systematically to ascertain the financial position of a business
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Question 245:
Which of the following is an example of intangible assets?
  • A Trade debtors
  • B Stock of goods
  • C Trade creditors
  • D Motor vehicles
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