2012 JAMB UTME Accounts Past Questions

2012

In manufacturing accounts, finance expenses are charged to the

2012

Which of the following is a debit item in the sales ledger control account

2012

Purchasers ledger control account can also be referred to as

2012

In sales ledger control account, returns inwards is usually

2012

The LIFO method has an advantage over FIFO in that stocks are valued at

2012

1/5/07 Purchased 100 bags of milk at #10.00k each3/5/07 Purchased 60 bags of milk at #11.50k each15/5/07 Issued 85 bags of milk15/5/07 Purchased 180 bags of milk at #12.80K each22/5/07 Issued 145 bags of milk.Using simpl…

2012

Which of the following is an item of special assets?

2012

At the end of a financial period, the tradingProfit and loss account of a sole trader Shows a profit of #180,000. it is howeverDiscovered that revenue of #15,000 isRecorded as expenses while expenses of#4,000 is recorded…

2012

Given:Cash book balance- #5000Dishonored cheque- #1000Direct credit - ₦800Direct debit - ₦500The adjusted cash book balance is

2012

In a modern day banking system, cash transfer cannot be made where the transferor

2012

Cash can be drawn from the bank using

2012

In a three-column cash book, dishonored cheques will be shown on the

2012

Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.The record in Jide's book would be to debit

2012

Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.In the book of Ibrahim, the entry to record the transaction would be to debit

2012

Akirika bought a motor van for his business by cash. The entries are to debit

2012

The capital of a sole trader can be increased by

2012

The correct posting in a double entry system of account when there is an increase in double assets, expenses, capital or liabilities is to debit

2012

An accountant must not only be interested in record keeping but also in

2012

The basis upon which assets of an organization is valued is the

2012

Cash Book ₦ ₦Capital2,600Purchases15,000Sales28,200Rent1,250 Motor vehicle7,600Determine the bank balance

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