1994 JAMB UTME Accounts Past Questions

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1994

A limited liability company has an authorized share capital of ₦50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been full…

1994

The amount of individual items on a government budget is called

1994

The cash basis of accounting requires the recognition of revenue only when they are

1994

The receipt from a special tax levy to pay maturing interest obligation are recorded in

1994

The expenditure on a good or services which is consumed either immediately or within a current accounting period is called

1994

An advantage of using accounting ratios is that they

1994

The document setting out the regulations regarding shares, meetings and internal organization of a company is known as

1994

A limited liability company has an authorized share capital of ₦50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been full…

1994

when shares issued are paid for, accounting entry required is

1994

Under which of the following conditions is a partnership dissolved?

1994

Kayode, Akpan and Kachalla are in partnership. Their respective capital accounts had the following balances: ₦40,000, ₦50,000 and ₦70,000. The partners agree to admit Wamo as a new partner with a one-fifth interest in th…

1994

Goodwill appears in the books of a business only if it has been

1994

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

1994

The net profit from a trading account of a non-profit making organization would be treated as income in the

1994

The major difference between the receipt and payment account and the income and expenditure account is that while the former

1994

Which of the following categories of labour cost will be classified as direct?

1994

From which of the following sources are creditors control account most likely to be posted?

1994

Beginning and ending accounts receivable balances were ₦8,000 and ₦15,000 respectively. If collections from customers during the period were ₦36,000, then total sales on account would be

1994

If a bad debt previously written off is subsequently repaid, the amount collected is recorded as an

1994

The net profit or loss for the year is determined in profit and loss account after

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