2018
To account for expenses paid by head office on behalf of the branch, the branch should___________
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2018 JAMB UTME Accounts Past Questions
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2018
Tea and Cup are into a partnership business. Interests on drawings made by partners are at 10% per annum. Tea’s capital is ₦70000 and current balance is ₦50000. He withdrew the following amounts during the year : 3000 on…
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2018
Which of the following is a conversion cost?
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2018
Cost of rent as an expense can be apportioned to all department on the basis of:
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2018
The rent expense for Trendy store is ₦3500. Trendy store has three departments; jewelry, hair dressing, and clothing. The floor spaces occupied by the departments are 3:2:5 respectively. What is the rent allocated to clo…
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2018
Why should a new partner contribute towards goodwill on his admission?
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2018
Departmentalization of accounts is useful because it shows the____________
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2018
Which of the following is a common cause of a discrepancy between head office and branch trial office________
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2018
Transfers from the head office to branches are best carried out at__________
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2018
Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted as a new partner to take 1/5 th as her share. What is the new profit or loss sharing?
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2018
A partnership’s internal regulation are set out by________---
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2018
In the absence of a partnership deed, the act stipulates that____________
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2018
Use the information below to answer the question. TotalPQ TotalPQ ₦₦₦ ₦₦₦Stock3,0002,0001,000Sales10,0006,0004,000Purchase4,0002,5001,500Closing Stock 2,0001,500 500Goods worth ₦300 was transferred from department Q t…
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2018
Which of the following should not be adjusted for in the profit and loss account?
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2018
Tea and Cup are into a partnership business. Interests on drawings made by partners are at 10% per annum. Tea’s capital is ₦70000 and current balance is ₦50000. He withdrew the following amounts during the year : 3000 on…
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2018
In dealing with incomplete record, fixed assets are posted to___________-
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2018
₦Stock at branch 1st January at cost 400Goods sent to branch at cost8000Returns to head office340Cash sales9160Stock at branch 31st December at cost720Use the information below to answer the question.Adex Ltd. Issues st…
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2018
The cost price method is applicable when_____
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2018
A partnership deed is used to____________
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2018
Branch stock adjustment account is prepared at?
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