2016 JAMB UTME Accounts Past Questions

2016

A discount that is allowed to encourage a debtor to pay off his debt within a period is the

2016

When the fixed capital method is used, the partners' share of profits and remunerations are credited to the

2016

The major sources of revenue for the state and local governments is

2016

The income and expenditure account differs from receipts and payments account because it

2016

When goods are sent to the branch at cost plus mark-up, it means that the branch should sell at

2016

Badge Plc issued 450,000 ordeinary shares of 50k each at #1.50 per share Application and allotment 45k1st call 50k2nd call 55kDetermine the amount received on final call.

2016

A proprietor started business with #13,000. Assets and liabilities at the end of the year; fixed assets #8,800, stock #, 600, debtors #1,000, cash #3, 000 and creditors #1,000. Determine the profit for the year?

2016

An organization which has records of only personal accounts is said to be operating on the basis of

2016

Turaki Youth Club Income and Expenditure for the year ended 31/12/04 # #Bal.b/d 390 Expenses on cleaning 300Sales of - New tool 510Trickets 4,000 Repairs 400Donations 3,000 Electricity 350Subscription 6,500What is the to…

2016

A receipt is an evidence of

2016

Which of the following condition would attract credit and debit notes to be used?

2016

The effect of overstating revenue expenditure in the profit and loss account is that the

2016

Which of the following is the capital reserve of a company?

2016

The documents that provide instant information to firms on their tranactions with banks are

2016

An item in the balance sheet of a limited liability company is

2016

The instrument used in analysis and interpretation of financial statement is the

2016

The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a

2016

One of the objectives of accounting is that it can be used for

2016

The major advantage of the journal proper is that it

2016

The records of Superstores shows a loan of #14,000 from Bala,creditor #8,000 and assets #190,500. What is the firm's capital?

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