2003 JAMB UTME Accounts Past Questions

2003

The stock valuation data is important because it enables management to?

2003

Advertising expenses incurred on a product in a business organization should be charged to?

2003

In a control account, provision for bad debts is found on the?

2003

Provision for discount allowed can be recorded as debit to?

2003

Given:(i) Order of performance (ii) Order of liquidity (iii)Vertical order (iv) Horizontal orderThe order in which a balance assets is arranged are?

2003

Use the information below to answer questions .Motor Vehicle Account as at 31st December 2001.Debit:Jan. 1, cost ................₦1950 000Dec.31, Addition ............ ₦400 000 Credit:Jan. 1, Depreciation ........₦1360 0…

2003

Use the information below to answer questions .Motor Vehicle Account as at 31st December 2001.Debit:Jan. 1, cost ................₦1950 000Dec.31, Addition ............ ₦400 000 Credit:Jan. 1, Depreciation ........₦1360 0…

2003

Given:Capital ...........₦1000Liabilities........₦500Assets.............₦1500The accounting equation can be expressed as?

2003

The recording phase of accounting is known as?

2003

The transaction that completes its double entry in the same ledger account appears in?

2003

Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

2003

Use the information below to answer question.Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales of ₦19000 from the business tray and banked it.The transactio…

2003

Use the information below to answer question.Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales of ₦19000 from the business tray and banked it.The credit sal…

2003

Verifiability in accounting is only possible when there are?

2003

Use the information below to answer question .Capital ...................₦2000Bank ......................₦1200Purchase ..................₦2500Sales .....................₦6700Stock .....................₦1300Creditors ....…

2003

The two legally recognized professional accounting bodies in Nigeria are the?

2003

Which of the following is used to update the cash book in bank reconciliation?

2003

A company has two departments X and Y. Y transferred goods to X at a profit margin of 25%. ₦10,000 worth of goods was not sold at the end of the accounting period.How much is the unrealized profit?

2003

Mamsa Nigeria Limited issued 20 000 ordinary shares of ₦1.50 per share on 2nd July 2002.1500 ordinary shares were fully subscribed for and their monies received as below:On application .........................₦0.40On al…

2003 JAMB UTME Accounts Past Questions

The stock valuation data is important because it enables management to?

Advertising expenses incurred on a product in a business organization should be charged to?

In a control account, provision for bad debts is found on the?

Provision for discount allowed can be recorded as debit to?

Given:(i) Order of performance (ii) Order of liquidity (iii)Vertical order (iv) Horizontal orderThe order in which a balance assets is arranged are?

Use the information below to answer questions .Motor Vehicle Account as at 31st December 2001.Debit:Jan. 1, cost ................₦1950 000Dec.31, Addition ............ ₦400 000 Credit:Jan. 1, Depreciation ........₦1360 0…

Use the information below to answer questions .Motor Vehicle Account as at 31st December 2001.Debit:Jan. 1, cost ................₦1950 000Dec.31, Addition ............ ₦400 000 Credit:Jan. 1, Depreciation ........₦1360 0…

Given:Capital ...........₦1000Liabilities........₦500Assets.............₦1500The accounting equation can be expressed as?

The recording phase of accounting is known as?

The transaction that completes its double entry in the same ledger account appears in?

Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

Use the information below to answer question.Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales of ₦19000 from the business tray and banked it.The transactio…

Use the information below to answer question.Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales of ₦19000 from the business tray and banked it.The credit sal…

Verifiability in accounting is only possible when there are?

Use the information below to answer question .Capital ...................₦2000Bank ......................₦1200Purchase ..................₦2500Sales .....................₦6700Stock .....................₦1300Creditors ....…

The two legally recognized professional accounting bodies in Nigeria are the?

Which of the following is used to update the cash book in bank reconciliation?

A company has two departments X and Y. Y transferred goods to X at a profit margin of 25%. ₦10,000 worth of goods was not sold at the end of the accounting period.How much is the unrealized profit?

Mamsa Nigeria Limited issued 20 000 ordinary shares of ₦1.50 per share on 2nd July 2002.1500 ordinary shares were fully subscribed for and their monies received as below:On application .........................₦0.40On al…

Gross profit in the branch adjustment account is transferred to the branch?