2019 JAMB UTME Accounts Past Questions

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2019

The similarities between Receipts and payments and income and expenditure account is

2019

In a non-profit making organisation, the excess of Assets over liabilities equals

2019

In the absence of partnership agreement, a loan by a partner attracts interest at

2019

Where there is no agreement made by the partners, the following provisions takes place except

2019

Use the following information to answer this questionYear₦199119921993199414,00024,00010,00016,000It has been decided to value goodwill at 2 years purchase of average profit for the past 4 years. The value of goodwill is

2019

Shares that are offered to existing shareholders at a price is called

2019

An ordinary share of ₦100 was issued at ₦80. The share was issued at

2019

Use the following to answer this questionOpening stockPurchasesSalesClosing Stocks₦20,00070,000100,00015,000What was the gross profit?

2019

Use the question to answer this question:Opening stock₦DepartmentAB100800Purchases:ABWages of workersSalaries1500200050100SalesAB30005000Expenses are to be shared in the ratio of sales.What was the cost of goods sold?

2019

Discount received is charge to

2019

The purpose of profit and loss account is to ascertain

2019

A rent of ₦50,000 was paid by samson to his landlady by cheque. The double entry in Samson's book is

2019

The difference between double entry and single entry is

2019

The rules of double entry states that

2019

A proprietor withdraws cash from the business for private use, he

2019

Bought motor vehicle ₦60 paying by cheque. The effect of the transaction will be

2019

Majority of commercial transactions are termed credit transactions, which means

2019

One of these is not a similarity between Joint Venture and Partnership.

2019

2019 JAMB UTME Accounts Past Questions

The similarities between Receipts and payments and income and expenditure account is

In a non-profit making organisation, the excess of Assets over liabilities equals

In the absence of partnership agreement, a loan by a partner attracts interest at

Where there is no agreement made by the partners, the following provisions takes place except

Use the following information to answer this questionYear₦199119921993199414,00024,00010,00016,000It has been decided to value goodwill at 2 years purchase of average profit for the past 4 years. The value of goodwill is

Shares that are offered to existing shareholders at a price is called

An ordinary share of ₦100 was issued at ₦80. The share was issued at

Use the following to answer this questionOpening stockPurchasesSalesClosing Stocks₦20,00070,000100,00015,000What was the gross profit?

Use the question to answer this question:Opening stock₦DepartmentAB100800Purchases:ABWages of workersSalaries1500200050100SalesAB30005000Expenses are to be shared in the ratio of sales.What was the cost of goods sold?

Discount received is charge to

The purpose of profit and loss account is to ascertain

A rent of ₦50,000 was paid by samson to his landlady by cheque. The double entry in Samson's book is

The difference between double entry and single entry is

The rules of double entry states that

A proprietor withdraws cash from the business for private use, he

Bought motor vehicle ₦60 paying by cheque. The effect of the transaction will be

Majority of commercial transactions are termed credit transactions, which means

One of these is not a similarity between Joint Venture and Partnership.

The method of stock valuation in which the issue price is obtained by dividing the value of stock in hand by unit of stock in hand is

Accounting standards are issued at the International level by the