Accounting JAMB - Page 43 of 151

The movement of goods from head office to a branch is treated in the in the head office accounts as?

A. sales B. issue C. purchase D. requisition Correct Answer: Option C – purchase

What is the share of department K?

A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K? A. N9000 B. N6000 C. N4500 D. N1500 Correct Answer: Option B –...

Departmental accounts are prepared to aid the comparison of the?

by Sunday | Dec 7 | Accounting JAMB

A. previous year’s transactions B. daily profits C. workers’ performances D. management performances Correct Answer: Option C – workers’ performances

Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?

by Sunday | Dec 7 | Accounting JAMB

A. debit side of its profit and loss account B. credit side of its profit and loss account C. debit side of its income and expenditure account D. credit side of its income and expenditure account Correct Answer: Option D – credit side of its income and...