2020 JAMB UTME Accounts Past Questions

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2020

A company has departments L, M and O. Department L Occupies a space twice that of M while O occupies half the space of M. If the company pays₦70,000 on rent, what is the amount of rent that should be allocated to M?

2020

Which of the following accounting conventions suggests that accountants should use a method of valuation that understates rather than overstates results?

2020

Kola and Sunday are in partnership sharing profits and losses equally. If Kemi is admitted as a new partner to take 1/5 as her share, what is the new profit or loss sharing ratio?

2020

The rules which govern the internal management of a firm and its financial affairs in a partnership business is a

2020

In trial balance, income and liabilities are

2020

The power to appoint the Auditor General of the Federation is vested in the

2020

The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of

2020

The value of the sales ledger control account is derived from the summation of the

2020

The standing order is a payment instruction given by a

2020

The debenture issued at par above the nominal value is Said to be issued at a

2020

Which of the following are advantages of departmental accounts?

2020

Four broad classifications of overheads are

2020

Advertising expenses incurred on a product in a business organization should be charged to

2020

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

2020

Appropriation Account TAYO TOPE ₦ ₦ interest on capital 750 550 Salaries 800 600 Share of profit 3,300 3,…

2020

The term "accounting period" is used to refer to the

2020

Fiyinfoluwa Motors bought three Toyota Hilux vans on cash at the cost of ₦6,000,000 on debiting the vehicle account, the corresponding credit for the purchase willappear in the

2020

Use the information below to answer this questionA machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.If the scrap value is presently ₦15,000 what will be the yearly depre…

2020

Use the information below to answer this questionA machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.The yearly depreciation using the straight-line method would be

2020 JAMB UTME Accounts Past Questions

A company has departments L, M and O. Department L Occupies a space twice that of M while O occupies half the space of M. If the company pays₦70,000 on rent, what is the amount of rent that should be allocated to M?

Which of the following accounting conventions suggests that accountants should use a method of valuation that understates rather than overstates results?

Kola and Sunday are in partnership sharing profits and losses equally. If Kemi is admitted as a new partner to take 1/5 as her share, what is the new profit or loss sharing ratio?

The rules which govern the internal management of a firm and its financial affairs in a partnership business is a

In trial balance, income and liabilities are

The power to appoint the Auditor General of the Federation is vested in the

The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of

The value of the sales ledger control account is derived from the summation of the

The standing order is a payment instruction given by a

The debenture issued at par above the nominal value is Said to be issued at a

Which of the following are advantages of departmental accounts?

Four broad classifications of overheads are

Advertising expenses incurred on a product in a business organization should be charged to

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

Appropriation Account TAYO TOPE ₦ ₦ interest on capital 750 550 Salaries 800 600 Share of profit 3,300 3,…

The term "accounting period" is used to refer to the

Fiyinfoluwa Motors bought three Toyota Hilux vans on cash at the cost of ₦6,000,000 on debiting the vehicle account, the corresponding credit for the purchase willappear in the

Use the information below to answer this questionA machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.If the scrap value is presently ₦15,000 what will be the yearly depre…

Use the information below to answer this questionA machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.The yearly depreciation using the straight-line method would be

In the head office ledger, the value of goods sent to the branch are