2002 JAMB UTME Accounts Past Questions

2002

Use the information below to answer the question that follows:Adex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch.Stock at branch 1st January at cost₦400Goods sent…

2002

Use the information below to answer the question that follows:Debtors₦20Provision for bad debts10%Provision for discount on debtors5%The provision for bad debt is?

2002

In the public sector, the method of accounting that reports revenues and expenditures in the period in which they are received and paid is called?

2002

Upon the dissolution of a partnership, the Partnership Act provides that the amount realized should be?

2002

Given:Balance at 31st December ............N14,744m Treasury Bills issued Jan-Dec........N7124m Revenue for the year ................N6387m Expenditure .........................N8767mWhat is the opening balance on the…

2002

Given:Sales ............................₦195,200 Stock 1st January.................₦34,000 Purchases ........................₦126,000 Sales returns ....................₦1,200 Purchases returns ................₦2,000I…

2002

Control accounts help to verify the arithmetic accuracy of the postings from the?

2002

keeping records under the single entry system has the advantage of?

2002

Given an incomplete record without sufficient information to determine profit, the necessary thing to do is to?

2002

In an incomplete record system a trading account cannot be prepared until the?

2002

In a control account, discount received is found on the?

2002

Given:Capital at start.......................₦3250 Capital at close ......................₦6250 Additional capital during the period...₦1000Calculate the profit or loss?

2002

Which method of pricing can be used satisfactorily in either a rising or falling price situation?

2002

Given:Cash purchases ..............................₦25000 Trading creditors............................₦45000 Opening balance of trade creditors...........₦35000Calculate the purchases for the period?

2002

A company operating a chain of retail provision stores invoices goods to the branches at cost plus a mark-up of 25%. What is the mark-up percentage on selling price?

2002

Costs that vary in proportion to the level of production in a manufacturing environment are known as?

2002

Given that 1/3 of the ₦6000 stock held by a branch is purchased from outsiders. If goods are invoiced to branch at 25% on cost, the provision for unrealized profit is?

2002

Nasara Manufacturing Plc has three direct labour employees that work 40 hours each a week for 50 weeks a year. Factory overhead costs of ₦60,000 is distributed on the basis of direct labour hours.Compute the overhead rat…

2002

Use the information below to answer questions Adex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch. Stock at branch 1st January at cost............N400 Goods sent t…

2002

Use the information below to answer questionsAdex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch.Stock at branch 1st January at cost............N400 Goods sent to…

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