2015 JAMB UTME Accounts Past Questions

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2015

If the partnership agreement does not specify how net profit is to be divided, the profit should be divided .

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The basis of accounting for public sector is

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The following account are prepared when goods are sent to branch except

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The act of making necessary adjustment after comparing the actual cost with targeted cost is cost ----------------------------

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One of the items listed below will not be found in a company’s memorandum and article of association. Which is it?

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The following accounting entries are made when bad debt is recovered

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Derive the stock turnover period.(Average stock = 23,000. Cost of sales = 300,000 year = 365 days).

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What does liquidity ratio measure?

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The accounting convention that state that stock should be value that the lower of cost and net realized value is --------------- convention

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Which of the following is not a proper form of the accounting equation

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Which of the following is a debit entry in debtors control account?

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In a bank reconciliation statement, Dishonoured cheques is added to

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The ledger entries to be made if cash sales is banked is debit

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CR. DR.Sales ledger balance 9, 500Sales ledger balance 420 Bought ledgers balance 6, 115 Bought ledger balance 350 Credit sales 82, 000 Purchases journal 54, 700Discount allowed 450 Discount received 200 Cash refunded to…

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Using LIFO method of stock valuation, analyze the issue quantities and their prices

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When the invoice of a customer is overcast, the supplier will send to him a

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The accounting concept that allows the cost of kitchen cutlery to be expensed, though it can be used for more than one year is

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Prime cost is one of the following

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The major distinguishing element between the final account of a partnership and that of a sole trader is the

2015

Use the information below to answer this question.Buhari and Osinbajo are in partnership with the following partnership agreement Buhari OsinbajoCapital 40, 000 70, 000 Salary 10, 000 15, 000 Interest on capital 5% 5% P…

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